EU’s Tusk at G7: Open to cooperation on Brexit, but not on no-deal
On his arrival at the G7 Summit earlier today, the European Council President Donald Tusk said that he is open to cooperation on Brexit.
However, he added: “One thing I will not cooperate on is No Deal. And I still like to think Boris Johnson will not want to go down in history as Mr. No Deal."
Tusk spoke ahead of his much-awaited meeting with the UK Prime Minister (PM) Boris Johnson on Sunday to discuss the Brexit plan.
The Cable enjoyed a relief rally and tested the 1.23 handle on Friday after the US dollar was thrown under the bus broadly by the US President Trump’s Twitter barrage following China’s unexpected retaliatory tariffs on the US imports.
Trump’s rant led to the US yield curve inversion, as it fueled concerns that the trade war will trip the US economy into a recession.
On Monday Asia open, the outcome of the PM Johnson and Tusk’s meeting will influence the GBP trades. However, the reaction to Trump’s retaliation to the Chinese tariffs will emerge the main market driver.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
