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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.