Brexit: EU may delay backstop concessions until January according to AFP, GBP/USD pressured
The European Union may delay any concessions towards the UK on the issue of the Northern Irish backstop until January. The AFP reports about a prepared text:
The other 27 EU countries have drawn up a six-paragraph statement designed to appease concerns about the “Irish backstop” in the Brexit withdrawal and ease the deal’s passage through the British parliament.
The report quotes European diplomats that claim that the new language will not change anything materially. The diplomats say that the delay to January is necessary in order to prevent the Brexiteers from seeking more concessions, thus further postponing the approval of the backstop.
In the UK, Commons Leader Andrea Leadsom announced that next week's business does include a vote on the Brexit deal.
GBP/USD is trading in the mid-1.2600s after hitting a high of 1.2686 earlier in the day. UK PM Theresa May won a confidence vote in her Conservative Party on Wednesday.
Author
Yohay Elam
FXStreet
Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.
