Market Updates: Theresa May Tries to Break Brexit Deadlock with EU

Sterling takes a bullish turn after gaining support around 1.2840. It turns out that the British Prime Minister Theresa May is trying to break the Brexit deadlock by introducing proposals in the Parliament.

Following her Brexit split agreement which was rejected by lawmakers last week, May has been seeking a way to get a deal through Parliament, with no success so far.

Investors are expecting Theresa May to set out plans to axe the Irish backstop from her Brexit deal with the EU. Until the executable plan is defined, the British Pound is likely to remain vulnerable.