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The UK’s PM Boris Johnson will tell European Union on Tuesday that the Brexit divorce deal is “contradictory” on Northern Ireland, the Telegraph newspaper reported on Monday.

Johnson is reported to believe that the UK-EU withdrawal agreement is legally ambiguous and would leave Northern Ireland isolated from the rest of the UK, something that was unforeseen when he agreed to it last year.

Market implications

The pound is vulnerable as it treads water vs the euro and US dollar. 

For EUR/GBP, there are two structural levels to the downside which could be tested prior to an impulse higher:

  • EUR/GBP Price Analysis: Monthly bullish swing-trade target, 0.9250
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