GBP News 

GBP/USD Forecast Dec. 18-22 2017

“Here are the key events and an updated technical analysis for GBP/USD. EU leaders formally approved moving to the next phase of Brexit talks, but trade relations could remain complicated” writes Yohay S Google for forexcrunch.com. With Brexit talks not leading to a positive outcome on trade, worrying signs of rising unemployment and a dovish central bank, it is hard to see reasons for the pound to rise. Source: forexcrunch.com Share This:

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Boris Johnson breaks ranks with ‘vassal state’ warning

“Davis has said he hopes whatever new arbitration system is agreed under the trade deal with the EU could start to operate before the end of the transition period” writes Ros Altmann for theguardian.com. In a pair of defiant articles in the Sunday Telegraph and Sunday Express newspapers, after her defeat this week in the House of Commons over parliamentary scrutiny of a final Brexit deal, the prime minister said: “Amid all the noise, we are getting on with the job. Source: theguardian.com Share This:

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Theresa May is trying to hide the fact that Britain will stay in the single market for years after Brexit

“For Umunna, May’s attempts to obscure the reality that Britain is heading for a Brexit transition inside the customs union and single market is so strong that she is not even being willing to use the terms” writes Adam Payne for businessinsider.com. “The prime minister has used different words like ‘implementation period’ and said we’ll observe the same rules and regulations apply, without actually mentioning the phrases single market and customs union,” Umunna adds. Source: businessinsider.com Share This:

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Boris Johnson warns UK cannot become ‘vassal state’ of EU

“But she must now unite her deeply divided cabinet over what trade deal Britain actually wants” writes Tom Welsh for telegraph.co.uk. Britain must strike a strong trade deal with the European Union after Brexit and avoid becoming a subordinate state of the bloc, Boris Johnson said.”In the face of those who want to talk Britain down, we are securing the best and most ambitious Brexit deal for our whole United Kingdom. Source: telegraph.co.uk Share This:

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UK will retain EU rules during transition, says Hammond

“A Brexit transition deal will mean the UK retains the same rules that apply within the single market and customs union, the chancellor has said in remarks likely to infuriate Conservative hardliners” writes Jamie Grierson for theguardian.com. Philip Hammond said that although “technically” the UK would not be in the customs union or single market, the transition deal sought by the government would effectively “replicate the status quo” on trade and migration. Source: theguardian.com Share This:

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UK public becoming more pessimistic over Brexit economic impact

“The British public has become more pessimistic about the economic impact of Brexit, a major new survey for the Bank of England has found” writes Ben Chu for independent.co.uk. The UK economy is projected to grow by just 1.5 per cent over 2017 by the Office for Budget Responsibility.A survey by NMG of some 6,000 households, conducted in September, shows that the proportion of households expecting leaving the European Union to harm the UK economy has risen since the second half of 2016.The NMG survey, published as part of the Bank’s Quarterly…

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What happens next in the Brexit talks

“EU leaders have finally declared that “sufficient progress” has been made in the Brexit negotiations, giving the green light for the next phase of trade talks to begin” writes James Rogers for telegraph.co.uk. Other ministers, such as Philip Hammond, want a softer Brexit where the UK sticks to EU rules to minimise trade disruption. … Source: telegraph.co.uk Share This:

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EU to delay trade talks for three months while May’s government decides what they want from Brexit

“However, talks on a future trade deal are set to be delayed with EU leaders still uncertain as to what May’s government are hoping to achieve” writes Adam Payne for businessinsider.com. LONDON — The European Union has told Britain it has three months to decide what sort of future trade deal it wants before it is prepared to begin negotiating a future trade deal.Brexit Secretary David Davis has suggested that Britain and the EU could negotiate a “Canada plus plus” trade deal.This would involve replicating the EU-Canada trade deal (CETA)…

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