© Reuters. Brexit brinksmanship has pound slumping
- Brexit negotiations are headed for a “catastrophic breakdown,” unless the EU agrees this week to move on to trade agreements, reports Bloomberg, citing a person with knowledge of the U.K.’s position.
- U.K. Prime Minister Theresa May, says the source, took a political risk last month by promising to make payments towards the EU budget and settle the divorce bill, and she now needs something in return.
- In the green for most of the session, cable (NYSEARCA:FXB) is now modestly lower vs. the dollar at $1.3271. The FTSE is barely in the green.
- ETFs: FXB, EWU, GBB, DBUK, FKU, EWUS, DXPS, HEWU, QGBR
- Now read: Best Currency Positions For September 2017