Where are we in the Brexit equation

17.07.2019 / 02:25

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The latest development in Brexit's saga is that Boris Johnson and Jeremy Hunt declare the Irish border "dead" and say they will not include it in negotiations with the European Union after one of them takes over the leadership.

As European leaders / legislators insist that they will not offer more concessions or renegotiate the current deal at the table, this puts us in a firm stance "No" with regard to the renegotiation branch above, and this increases our chances of heading for Brexit without a deal on 31 October.

This could be partly what weighs on the pound this morning as traders get used to the notion that any new prime minister, any deal with the European Union looks farther than before.

And while Johnson or Hunt continues to promise their firm stance on Brexit, it's hard to see that the pound is collecting any sustained delay in the coming weeks / months.

Trader Aleksandar Kumanov

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Where are we in the Brexit equation

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