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GBP Slides Following Brexit Trade Deal Worries -Breaking

by Mike Robinson

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Sam Boughedda

Investing.com — Following Bloomberg reporting that the European Union might terminate its post Brexit trade deal, the British could see their disagreements on Northern Ireland’s border worsening, Friday’s session saw the sterling currency fall.

U.K. officials have spoken out in favor of suspending Northern Ireland Protocol. The protocol regulates trade between Northern Ireland (and the U.K.). Prime Minister Boris Johnson made threats to invoke article 16. This allows for the protocol to be suspended when it impacts everyday life. According to reports, the parties have had crunch talks as a way of trying to solve the problems.

It is not an easy decision for the EU to cancel the Brexit trade arrangement. This would require the backing of all 27 EU members.

According to the news, it fell 0.4% on Thursday to 1.3736. It is hovering at 1.3743, just below that level.

The pair’s price has seen a sharp rise since October. It rose from 1.34 to 1.3834 by Wednesday.

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