- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- July 13, 2018
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Sterling fell to a 2-week low today as a resurgent dollar and comments by U.S. President Donald Trump that a possible trade deal was probably dead, this lead to no demand for the pound.
Trump, who is visiting Britain, said Prime Minister Theresa May’s newly-announced Brexit blueprint had probably killed hopes of a U.S.-UK trade deal.
President Donald Trump directly criticized Prime Minister Theresa May’s Brexit strategy, saying she had failed to take his advice on how to negotiate with the European Union.
In an interview published just hours before he was due to have lunch with May and tea with Queen Elizabeth on Friday, Trump chided the “very unfortunate” results of the prime minister’s Brexit negotiation.
“If they do a deal like that, we would be dealing with the European Union instead of dealing with the UK, so it will probably kill the deal,” Trump told the Rupert Murdoch-owned Sun newspaper.
After a tumultuous week for May, when her Brexit Secretary David Davis and Foreign Secretary Boris Johnson resigned in protest at the Brexit plan, Trump heaped praise on Johnson, saying he “would be a great prime minister”.
As Britain prepares to leave the EU on March 29, 2019, supporters of Brexit have made much of the so-called special relationship with the United States and the benefits of forging closer trade ties with the world’s biggest economy.