Search ForexCrunch

Reuters reports that members of the US Congress on Wednesday took another step to try to prod Britain to reverse its decision to allow China’s Huawei Technologies Co to build portions of the UK’s next generation 5G networks.

Republican senators Tom Cotton, Ted Cruz, Josh Hawley and Marco Rubio proposed legislation requiring the Committee on Foreign Investment in the United States to review Britain’s place on the foreign investment “whitelist,” which exempts some Australian, Canadian and UK companies from increased U.S. scrutiny of their foreign investments.

The British Embassy in Washington did not immediately comment.

FX implications

There is little to be taking into consideration at this precise time, considering the risks associated with the EU and UK trade negotiations, the coronavirus, the UK budget and the Bank of England all in view this month.