Market chatter: EU’s Brexit offer said to have already been rejected by UK

Eren Sengezer FXStreet

Several news outlets have recently reported that the European Union's Brexit offer has been already rejected by the UK. With the initial market reaction to this headline, the GBP/USD pair is testing the 1.30 mark, losing more than 80 pips on the day.

On a similar note, "Offer promises legal beef up of existing promises, but suggestion of GB exit from backstop leaving NI in has already been rejected by UK so not really a concession," BBC's Laura Kuenssberg tweeted out.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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