Sterling tumbles broadly as UK Prime Minister Theresa May declares that the Brexit negotiation with the EU is “at an impasse”. And urged the nation to prepare for a no-deal scenario.
May talked about the two options the EU has offered. She criticized the Norway way as “would make a mockery” of the Brexit referendum. And, the second one, a border in the Irish Sea was already rejected by the parliament. Further she said if EU thinks she’s going to budge on an Irish Sea border, they’re making a serious mistake.
Additionally, May also criticized that there is no counter-proposal from the EU after rejecting her Chequers plan. While EU could say it has softened its stance on the Irish border, May said they cannot offer anything more generous.
Clear reacitons are seen in Sterling pairs after May’s statement.
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