May's Deal Receives Support

GBP

Theresa May has received a major boost after an influential Tory backbencher said he was ready to get behind her Brexit deal. Sir Graham Brady of the conservative party said he was likely to support the revised version of the deal and urged other lawmakers to back May’s Brexit deal.

Sir Graham said he was ready to support a revised plan if “the right compromise is offered”. He did believes that the Irish backstop problem needs to be tackled before coming to a compromise over this current deal. Furthermore he went onto say that conversations with Europe’s senior diplomats and politicians have given him optimism that a break through is ‘near’.

Lastly Sir Graham believes that a compromise is ‘fundamentally in our interest and that of the EU’s’. He went onto say ‘’the attorney general needs to give a legally binding guarantee that the backstop is temporary. Once we have that, my colleagues in parliament need to recognise the strength of feeling.” The reassurances over the Irish backstop problem have gone on for months but if a break through can be made with the EU regarding this situation then this could be key in getting the Brexit deal through Parliament.

USD

Donald Trump speaking over the weekend said the US Dollar is too strong and took a swipe at Fed Chair Jerome Powell as someone who ‘likes to raise interest rates’. Trump went onto say “I want a strong dollar but I want a dollar that does great for our country, not a dollar that’s so strong that it makes it prohibitive for us to do business with other nations and take their business,”.

Despite the actions of the Central bank, the US economy is continuing to do well and Trump was critical of Fed by implying that if interest rates were left unchanged then this could have led to a lower dollar which could have meant it would be easier to do business with countries around the world.

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