The pound gained yesterday after UK Prime Minister Theresa May said she will take control over the negotiations with the EU. Overnight, the Aussie came under selling interest following the release of Australia’s inflation data for Q2. As for today, the focus will fall on the Trump-Juncker meeting, where trade is likely to take center stage.
UK Prime Minister May to Take Control Over Brexit Talks
The pound traded higher against all but one of the other G10 currencies on Tuesday. It gained the most against CHF, EUR, USD and JPY, while it underperformed only against SEK.
The British currency came under buying interest yesterday after UK Prime Minister Theresa May said she will take control over the negotiations with the EU. “I will lead the negotiations with the European Union, with the Secretary of State for Exiting the European Union deputizing on my behalf,” May said in a written statement to parliament.
Following her proposal to create a free trade area with the EU, the fact that she is taking the driver’s seat in the Brexit talks may have...
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