Brexit talks drag on as key UK PM Johnson ally threatens hold-out – Bloomberg

Anil Panchal FXStreet

Ahead of the European session opening on Wednesday, the Bloomberg ran a story confirming that the Brexit talks will continue on Wednesday, citing EU sources, mainly due to the non-confirmation of support by the Democratic Unionist Party (DUP). It also confirms the talks dragged into late-night on Tuesday but failed to offer any final solution.

The news report mentions that getting a Brexit deal from the European Union (EU) is easy for the United Kingdom’s (UK) Prime Minister (PM) Boris Johnson but he insists getting support from DUP in order to get it through the Parliament at home.

The story also quotes the DUP leader Arlene Foster after she spoke with the UK PM for 90 minutes while saying that it would be fair to indicate gaps remain and further work is required.

FX implications

While no major reaction to the news could be witnessed, it depicts the uncertainty surrounding the key issue for the UK and the EU that will dominate the GBP/USD pair today. The quote seesaws near 1.2750 by the press time.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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