United Kingdom Prime Minister Boris Johnson was warned by Senior US politicians that Washington will not support any free trade pact with the UK if Britain fails to sustain its commitments to Northern Ireland as part of Brexit.
On Monday, The UK internal market cleared its first Commons hurdle despite deep misgiving by some senior Tories, with amendments to the Northern Ireland provisions expected to emerge in the Commons next week.
Four US congressmen have written to Mr. Johnson urging the Government to respect its open border and peace process with Northern Ireland.
They wrote: “Many in the United States and in Congress consider the issues of the Good Friday Agreement and a potential US-UK Free Trade Agreement inextricably linked.”
“With the issues raised in this letter in mind, we therefore urge you to abandon any and all legally questionable and unfair efforts to flout the Northern Ireland protocol of the Withdrawal Agreement and look to ensure that Brexit negotiations do not undermine the decades of progress to bring peace to Northern Ireland and future options for the bilateral relationship between our two countries.”
On the daily charts GBP/USD, the price opened at 1.289 in Asia and is gaining against the U.S. dollar.
The Fed’s policy meeting to be held later in the day, affected the dollar’s performance in Wednesday morning pushing gains for the Sterling.
The GBP/USD pair edged up 0.22% to 1.2915. The pound rose on the back of Tuesday’s better-than-expected job figures, as well as opposition to a bill proposing to break the U.K.’s Brexit treaty with European Union (EU). The U.K. will release a slew of data for August, including the consumer price index, later in the day.
Don’t forget to follow and subscribe for more updates about market trends, analysis, forex news, strategies and more!
Do you want to learn more about forex trading? Sign up now on our FREE forex webinar and reserve your FREE seats while it still lasts!
Information on this page is solely for educational purposes only and is not in any way a recommendation to buy or sell certain assets. You should do your thorough research before investing in any type of asset. Learn to trade does not fully guarantee that this information is free from errors or misstatements. It also does not ensure that the information is completely timely. Investing in the Foreign Exchange Market involves a great deal of risk, resulting in the loss of a portion or your full investment. All risks, losses, and costs associated with investing, including total loss of principal and emotional distress, are your responsibility.