The Pound is going to pay attention to the Brexit again. Overview for 20.08.2019

2019-08-21 12:00    RoboForex

On Tuesday morning, GBPUSD is slowly falling as policymakers are trying to renegotiate the Brexit deal.

The British Pound remains weak against the USD on Tuesday. The current quote for the instrument is 1.2126.

The highlight is the Brexit deal again, specifically, attempts to change it. Boris Johnson, the British Prime Minister, made his first public attempt to renegotiate the agreement. This refers to the border issue with Ireland, which was and still is a very tricky subject. 

According to Bloomberg, Johnson “wants to replace the so-called backstop provision in the divorce agreement with a “legally binding commitment” not to build infrastructure or carry out checks between Northern Ireland and the Republic of Ireland -- the U.K.’s new frontier with the EU -- as long as the bloc promises the same.”

The border issue is one of the most complicated parts of the deal with the European Union. However, the fact that the United Kingdom is trying to keep the agreement draft the way it was developed earlier and avoid the “hardcore” Brexit scenario if they have something better is surely positive.

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