The pound slipped further yesterday afternoon as it became apparent that cross-party Brexit talks would not be reaching a conclusion any time soon. There were even reports that the negotiations were ‘near collapse’, sending sterling even lower. But Prime Minister Theresa May assured that they are “working on an agreement that can command the majority”.
The announcement that the UK will definitely be taking part in European Elections was also an indication that there will be no Brexit breakthrough in the near future, sending the pound lower still.
Sterling has had a choppy start this morning as uncertainty over the state of cross-party talks continue. Labour and Tory negotiators will begin at the beginning of next week, after ‘working to establish scope for an agreement’.
The Prime Minister’s future remains in question as she rejects calls to resign over Brexit, saying that it’s “not an issue about me”. Calls for her to decide on an exit date are increasing, but so far she seems determined to stay put.
