Pound falls as Brexit talks stay deadlocked
Theresa May has a week — at most — to come up with concessions so that deadlocked Brexit talks can finally move on to trade. The main sticking point is how to prevent a hard border emerging in Ireland after Brexit.
That means the key decision-makers are now the Irish government and Northern Ireland’s biggest party.
The pound was down 0.4 per cent at $1.3440 at 12.04pm yesterday in London, a third straight decline.
Irish Foreign Minister Simon Coveney told lawmakers in Dublin that the government wants to be “helpful,” as May scrambles to find wording that will allow Brexit talks to move on. Still, he made clear that the administration isn’t budging from its central position of seeking guarantees to ensure no hard border re-emerges on the island of Ireland.
“We accept that the British government is trying to move this process forward in good faith,” he said. “We want to work with them not against them but Ireland has real concerns.”