Four senior congressmen write to Boris Johnson to reiterate there will be no US-UK trade deal if the legislation to override the EU-UK Withdrawal Agreement isn’t pulled pic.twitter.com/Q3n7yewn0S— Sam Coates Sky (@SamCoatesSky) September 15, 2020
The tweet is a follow up of earlier informal warnings from Rep. Nancy Pelosi, Speaker of the United States House of Representatives last week.
Pelosi warned that Britain will be unable to secure a trade deal with the US if it does anything to undermine the treaty that brought peace to Northern Ireland after decades of violence.
The UK concedes the legislation would "break international law in a very specific and limited way, but it has not gone down too well among top Democrats in the US.
"If the UK violates that international treaty and Brexit undermines the Good Friday accord, there will be absolutely no chance of a US-UK trade agreement passing the Congress," Pelosi said in a statement last Wednesday.
If the deal passes the Lords, it looks increasingly likely that a no-deal scenario will be the outcome and that spells trouble for the pound.
There could be some room to the upside prior to the next impulse to the downside between structures on the daily chart.
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.