Donald Trump’s trade warning hindering Sterling surge

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Donald Trump’s trade warning hindering Sterling surge

In a recent press briefing, the US president Donald Trump warned that the recently-signed Brexit draft would hamper US-UK trade relationship and the US might not be able to proceed with further trades with UK, if this Brexit draft remains unaltered.

As a consequence, the sterling had been jolted downward and the GBP has broken its critical support level at 1.2770. While this report is being prepared, the GBP was being traded at 1.2742, while pressure is mounting high on UK PM Theresa May, as her Brexit deal will be facing votes in the House of Commons in December 10th.

For now, the PM May’s Brexit supporters are seven votes behind the Brexit opposer. Apart from this particular fact, Donald Trump’s recent comment simply stunned the UK, US and European traders. As the US president Donald Trump commented, scrutinizing the Brexit draft, the UK Proposal seems to be a good deal for the EU and they (the UK) might be able to trade with us.

This unanticipated intervention in the Brexit issue from Donald Trump had surged a monumental pressure over UK PM May, her conservative party and UK economy including GBP. In the face of this criticizing comment, both EURO and GBP kept falling apart, while EURO resided below 1.1289, on the verge of breaking its critical support level.