Current: British Pound under Pressure, EU Shows a cold shoulder to Johnson

The British Pound is under pressure after pierced reports about the EU’s attitude to Boris Johnson’s plans. Here are the main points:

  • only option for Brexit deal before 31st of October is return to Northern Ireland backstop, otherwise a postponement of exit date is likely
  • Johnson proposals would effectively lead to border between Northern Ireland and Ireland
  • Johnson’s suggestions known from the press are “inadequate”
  • if this is Johnson’s final Brexit plan, it’s not gonna work
  • aren’t sure Johnson’s preparing to blame us

Today at 12pm UK time (1pm German time) Johnson will give a speech and officially present his plans. Meanwhile the British Pound is falling -0.6%. The sell-off will be mitigated by the prospect of a postponement of the British exit date…

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