The British pound took a knock on Friday, July 13, after US President Donald Trump issued a warning to British Prime Minister Theresa May. That reports Business Insider.
Trump stated on Thursday 12 July that the 'soft Brexit' that May envisions greatly reduces the chance of a separate trade deal with the United States (US) for the United Kingdom.
Trump spoke out
Speaking to 'The Sun', Trump spoke out about May's plans to maintain ties with the European Union (EU), after the brexit† "If they do, we're still dealing with the EU, so that would kill a separate deal," Trump said.
President Trump's comments could affect May's support within her own Conservative party. This may also have consequences for the negotiating position of the United Kingdom (UK) vis-à-vis the EU.
Implications for British Pound
In financial markets, investors steered the british pound a little lower on Friday. In the afternoon the pound traded at around 1,13 euros per pound, while the British currency had fallen slightly below that level in the morning.
Read more on Business Insider:
- Trump meets Queen Elizabeth; he can insult her in these 8 ways
- Trump denounces May, praises Boris Johnson and condemns European migration policy
- Trump Discovered Merkel's Weakness
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