UK ministers begin to test the waters of another Brexit referendum - Sky News

Joshua Gibson FXStreet

According to Sky News, UK ministers are beginning to ask constituents if they still want to go ahead with Brexit, which is beginning to look more like an economic hazard.

Key quotes

"Alistair Burt, an experience Foreign Office minister, has been collecting voters' views for weeks, asking how they would vote in another nationwide poll. A form on his website asks them: "Do you support a further vote on the referendum?"

Constituents are also asked what the vote would cover. Four options are offered: A vote on the final deal; a re-run of the original referendum with in/ out choices; three choices - a "soft" Brexit, a "hard" Brexit or no Brexit; or no further vote.

Prime Minister Theresa May has categorically ruled out a fresh vote on Brexit and insisted Britain will leave the EU on 29 March 2019. Labour leader Jeremy Corbyn has also confirmed he is not calling another referendum.

Sky News understands activists from the pro-EU campaign People's Vote have emailed supporters who live in Mr Burt's constituency, North East Bedfordshire, to urge them to take part.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

EUR/USD weakens below 1.1700 as Middle East tensions drive US Dollar strength

The EUR/USD pair trades with mild losses around 1.1685, the lowest since late January, during the early Asian session on Tuesday. The US Dollar gathers strength against the Euro as escalating tensions in the Middle East boost safe-haven currencies. The preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone will be published later on Tuesday.

GBP/USD hovers around 1.3400 with bearish pressure intact

GBP/USD edges higher after three days of losses, trading around 1.3400 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold defends bids as US-Iran war continues to fuel safe-haven flows

Gold retains positive bias for the fifth consecutive day on Tuesday as rising geopolitical tensions in the Middle East continue to underpin safe-haven assets. However, a bullish US Dollar keeps the bullion below its highest level since late January, set on Monday, warranting caution before positioning for any further appreciation.