Forex

British pound sterling starts 2018 with a positive perspective

British Pound

Tuesday, the British pound sterling did well against the United States dollar and the Euro, brought by speculations and thought about the next Brexit talk later this year. The British pound sterling settled at 1.1249 pence against the single currency, which was 0.02% higher from its previous settlement. Against the United States dollar, the British pound sterling traded at 1.3529, which was 0.15% higher from the currency’s previous close.

In accordance to this, even though the pound’s path was perceived to be the same as what it held at the end of 2017, investors and analysts are now turning their focus to the pound right after David Maddox presented a report indicating that pressure is pinning on the British Prime Minister: Theresa May; this is in accordance to the ongoing Brexit talks.

David Maddox claimed that Theresa May is struggling to deliver a proper Brexit negotiations with two leading groups in the Tory Party issuing 10 red lines warning against more concessions to Brussels. In addition, Lord Tebbit of the Bow Group along with with the Bruges Group have issued a series of demands to Theresa May, which includes a pledge that Article 50 will not be reversed.

On the other hand, Secretary of State for Foreign and Commonwealth Affairs: Boris Johnson had announced his concerned about the current progress of the Brexit negotiation and mentioned that other members of the cabinet are trying to prevent a clean Brexit which pressures the Prime Minister.

In accordance to this, despite of the stress and pressure mounting on the Prime Minister, Theresa May announced on an interview that she vows to keep the positive progress of the ongoing Brexit negotiation.

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