Late 2017, it seemingly proved impossible for May to satisfy her three most difficult audiences: the Irish Government, which is backed by the EU that it belongs to; Northern Ireland’s Democratic Unionist Party, which is propping up her Government; and the ardent Brexit backers within her own party. At an emergency negotiating session in late December the new Government accepts the EU’s offer of membership in the European Economic Area.
It means Britain will maintain full access to its biggest market for goods and services, but now has to accept rules it has no say in making. It has also failed to “take back control” of Immigration, a major issue in the Brexit debate.
As Asian Markets were marginally higher Wednesday morning, and Gold remains supported above the $1310 mark, the Pound hit a fresh four-month high on the back of strong U.K. Manufacturing Data which showed that the sector held up in December. Until Parliament returns next week and the focus switches back to Brexit, Sterling traders will be awaiting the next gauge of the health of the economy from Construction and Services Data due today and tomorrow.
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