EU Chief accuses UK of seeking Brexit clash – Telegraph

Anil Panchal FXStreet

“He is concerned the (UK) Government will refuse to engage with proposals put forward by Brussels,” the UK Telegraph came out with the Brexit news quoting Maroš Šefčovič, Vice-President of the European Commission in charge of Interinstitutional Relations and Foresight.

The news also mentioned that Maros Sefcovic has urged Lord Frost to back down and reconsider the EU’s proposals.

“Brussels has warned the UK not to “embark on a path of confrontation”, amid tensions over Northern Ireland and post-Brexit fishing rights,” said the Telegraph.

Market reaction

With this news, GBP/USD bears get another reason, in addition to the firmer US dollar, to poke a fortnight low surrounding 1.3670.

Also read: Brexit News: French Pres. Macron questions UK credibility amid fishing row

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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