Tim Riddell, senior market strategist at Westpac, suggests that Brexit is still the paramount issue in UK and it became more acute as opposition parties fumbled attempts to foster cross-party support to block a no-deal. Key Quotes “This week PM Johnson irked EU-27 by suggesting that the Irish “backstop” be dropped as he prepared to visit Berlin, Paris and G7’s Biarritz summit this weekend.” “The maths of UK politics mean that gaining support for any Brexit stance is difficult, if not impossible. However, a withdrawal treaty without a backstop might just gain support. Unfortunately it won’t wash with EU-27. UK has persistently underestimated the cohesion of EU-27 and their support for Ireland and this is unlikely to alter unless no-deal risks become too high for comfort.” “Oddschecker’s no-deal probability has risen from sub20% in May to over 40% now. Bloomberg’s Brexit Barometer may suffer periodic discrete moves, but it displayed deterioration (higher) into August.” “GBP is unlikely to sustain rebounds unless a break in the backstop impasse can be found. Although some sound GBP support appears to have been found at recent extremes (GBP/USD below 1.20 and EUR/GBP above 0.93), no-deal downside risks clearly remain.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD remains depressed near 1.1060, Powell eyed FX Street 4 years Tim Riddell, senior market strategist at Westpac, suggests that Brexit is still the paramount issue in UK and it became more acute as opposition parties fumbled attempts to foster cross-party support to block a no-deal. Key Quotes "This week PM Johnson irked EU-27 by suggesting that the Irish "backstop" be dropped as he prepared to visit Berlin, Paris and G7's Biarritz summit this weekend." "The maths of UK politics mean that gaining support for any Brexit stance is difficult, if not impossible. However, a withdrawal treaty without a backstop might just gain support. Unfortunately it won't wash with EU-27. UK… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
