Brexit News Archive: 29 Jul 2019

Brexit means a 'better deal' for farmers, PM Johnson tells Wales

Prime Minister Boris Johnson will tell Welsh farmers on Tuesday they will get a better deal after Brexit, part of a countrywide tour to win support for his "do or die" pledge to leave the European Union by Oct. 31.
Reuters   |   Mon, 29 Jul 2019 21:47:55

Sterling slumps on 'no-deal Brexit' worries; stocks dip

The British pound touched its lowest level in over two years against the dollar after Prime Minister Boris Johnson said a hard divorce from the EU was in the cards, while stocks dipped globally with Wall Street backing off record highs.
Reuters   |   Mon, 29 Jul 2019 20:42:51

Australian dollar Brexits lower

DXY is approaching breakout even as we approach the Fed. EUR is weak and GBP free falling: The Australian dollar just keeps falling: Gold was strong in the circumstances: Oil too: Metals are confused: Miners were mostly higher: EM stocks went the other way: With junk: Despite a Treasury bid: ...
Houses and Holes / MacroBusiness   |   Mon, 29 Jul 2019 20:29:35

Boris Johnson heads for Wales and bitter clash with first minister

Boris Johnson will continue his whirlwind UK tour with a visit to Wales on Tuesday, attempting to re-assure farmers about a no-deal Brexit.
Sky   |   Mon, 29 Jul 2019 19:52:00

Boris Johnson's three-way Brexit standoff

All sides are waiting on the others to move first.
Charlie Cooper, Annabelle Dickson / Politico   |   Mon, 29 Jul 2019 19:50:22

Boris Johnson to 'hold out the hand' for new Brexit deal

The PM says the UK will "go the extra thousand miles" to strike a new Brexit deal with the EU.
BBC   |   Mon, 29 Jul 2019 19:40:24

Boris Johnson presses EU to give way amid no-deal Brexit warnings

UK PM Boris Johnson pushed Britain closer to a no deal exit from the European Union on Monday, insisting he will not hold Brexit talks with EU leaders unless the bloc lifts its refusal to reopen the existing divorce deal. Johnson is trying to pressure the EU to give ground ...
Times of India   |   Mon, 29 Jul 2019 18:54:06

Brexit: Weeks leading up to the Article 50 deadline to be chaotic - Standard Chartered

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FX Street   |   Mon, 29 Jul 2019 18:45:55

Stocks Slightly Lower into Afternoon on China Trade Deal Worries, Brexit Concerns, Profit-Taking, Energy/Homebuilding Sector Weakness

Broad Equity Market Tone: Advance/Decline Line: Lower Sector Performance: Most Sectors Declining Volume: Below Average Market Leading Stocks: Performing In Line Equity Investor Angst: Volatility(VIX) 13.0 +6.9% Euro/Yen Carry Return Index 125.94 +.29% Emerging Markets Currency Volatility(VXY) 6.95 +.29% S&P 500 Implied Correlation 33.59 -.91% ISE Sentiment Index 63.0 -33.0% ...
Unknown / Between the Hedges   |   Mon, 29 Jul 2019 18:42:00

Boris Johnson's Scotland problems

Prime minister has not had the best day north of the border.
Emilio Casalicchio / Politico   |   Mon, 29 Jul 2019 18:14:58

Brexit worries knock sterling; stocks slip

The British pound touched its lowest against the dollar in over two years after Prime Minister Boris Johnson said a hard divorce from the EU was in the cards, while stocks dipped globally on Monday after last week hitting their highest in five months.
Reuters   |   Mon, 29 Jul 2019 18:14:36

Pound at 2-yr low as fears grow over no-deal Brexit

Ministers give mixed messages with Johnson setting preconditions on meeting EU leaders
FT   |   Mon, 29 Jul 2019 18:14:05

Government plan to cut immigration after Brexit would have 'devastating consequences', Sadiq Khan warns Boris Johnson

Exclusive: London mayor demands rethink of 'flawed' plans for cutting low-skilled migration
Benjamin Kentish / The Independent   |   Mon, 29 Jul 2019 17:59:11

UK plays Brexit hardball from a submarine base, pound tumbles

Sterling tumbled to a 28-month low on Monday as Prime Minister Boris Johnson said the Brexit divorce was dead and warned that unless the European Union renegotiated, Britain would leave on Oct. 31 without a deal.
Reuters   |   Mon, 29 Jul 2019 17:32:43

Sturgeon thinks PM Johnson is pursuing a no-deal Brexit

Scottish First Minister Nicola Sturgeon said on Monday she believed Prime Minister Boris Johnson was pursuing a no-deal Brexit.
Reuters   |   Mon, 29 Jul 2019 17:17:18

EUR/GBP technical analysis: Euro hits a new 2019 high against Sterling as no-deal Brexit looms

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FX Street   |   Mon, 29 Jul 2019 17:02:52

Brexit has become the enemy of the UK union

Boris Johnson's 'do or die' strategy is gambling with Britain's future
FT   |   Mon, 29 Jul 2019 16:57:40

Number 10 refuses to exclude direct rule over Northern Ireland

Johnson under pressure to ensure no-deal Brexit does not break up UK
FT   |   Mon, 29 Jul 2019 16:44:14

Dominic Raab on Brexit: EU position is 'stubborn'

UK Foreign Secretary Dominic Raab said that on the EU side the UK saw a 'stubborn' position and Britain might end up leaving on WTO terms.
euronews   |   Mon, 29 Jul 2019 16:35:16

Boris Johnson set for Brexit deadlock after admitting no progress made with EU withdrawal agreement

New PM was booed in Scotland, where first minister Nicola Sturgeon said it was clear he was pursuing a 'hardline' no-deal outcome
Andrew Woodcock / The Independent   |   Mon, 29 Jul 2019 16:26:00

FTSE 100 shoots to 11-month high on pound dip, M&A

Britain's FTSE 100 surged to its highest in nearly a year on Monday, as shares of Just Eat and London Stock Exchange rallied on deal-related news, while exporter stocks benefited from a weaker pound amid heightened 'no-deal' Brexit fears.
Reuters   |   Mon, 29 Jul 2019 16:17:06

Ryanair profit down, says growth plans could be hit further by MAX delays and Brexit

Europe's largest low-cost carrier reported post-tax profit down 21% year on year at 243 million euros.
euronews   |   Mon, 29 Jul 2019 16:05:14

Ellesmere Port MP warns of 'catastrophic' Vauxhall plant closure

Justin Madders says carmaker's threat to shut factory is reaction to PM's no-deal Brexit cabinet Local politicians have said there will be catastrophic job losses if Vauxhall carries out its threat of ending production at its Ellesmere Port factory should Brexit make the site unprofitable. Justin Madders, Labour MP for ...
Josh Halliday North of England correspondent / Guardian   |   Mon, 29 Jul 2019 15:59:21

British pound slides further on no-deal Brexit fears

Seeking Alpha   |   Mon, 29 Jul 2019 15:54:31

More to the falling pound than no-deal Brexit fears

Some years ago I asked Alan Greenspan, who was just retiring as chairman of the Federal Reserve, whether he had ever worked out how to predict currency movements.
Sky   |   Mon, 29 Jul 2019 15:41:00

Sterling tumbles on hard Brexit worries; stocks slip

The British pound on Monday touched its lowest against the dollar since early 2017 after Prime Minister Boris Johnson's government said it now assumed there would be a hard divorce from the EU, while stocks dipped globally after last week touching their highest in five months.
Reuters   |   Mon, 29 Jul 2019 15:37:57

Boris Johnson: Memories of my meeting with him

Boris Johnson was the star speaker at an event in March 2019 in New Delhi. His fame as a leader of the leave campaign during the Brexit referendum & his earlier stint as the UK...
Abhishek Mishra / Times of India   |   Mon, 29 Jul 2019 15:30:42

UK plays Brexit hardball with EU from submarine base, pound tumbles

Sterling tumbled to a 28-month low on Monday as Prime Minister Boris Johnson said the Brexit divorce was dead and warned that unless the European Union renegotiated, Britain would leave on Oct. 31 without a deal.
Reuters   |   Mon, 29 Jul 2019 15:09:51

EUR/GBP could reach parity in the case of a no-deal Brexit - Danske Bank

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FX Street   |   Mon, 29 Jul 2019 15:03:32

Boris Johnson's new Brexit chief wants to scrap Theresa May's commitment to keep EU workers' rights

David Frost suggested that Brexit could be an opportunity to escape the EU's 'heavy labour market regulation'
Jon Stone / The Independent   |   Mon, 29 Jul 2019 15:01:38

Brexit: Boris Johnson Ups Work, Pumps Funds For No Deal Exit

The latest Brexit news is that the new U.K government led by Brexit hardliner Boris Johnson has fast-tracked preparations for leaving the European Union by October 31 even without a deal with the EU. The Johnson government is pumping more funds for the preparations and is envisioning a no-deal Brexit ...
IBTimes   |   Mon, 29 Jul 2019 14:58:52

Sterling sinks to 28-month low on Brexit fears

The currency could fall further as the government toughens its rhetoric on a no-deal Brexit.
BBC   |   Mon, 29 Jul 2019 14:55:43

UK government debt rallies on rising Bank of England rate cut odds

10-year gilt yield hits lowest level since wake of 2016 Brexit vote
FT   |   Mon, 29 Jul 2019 14:49:56

Boris Johnson booed and heckled on visit to Scotland

Scottish Tory leader Ruth Davidson made clear her opposition to a no-deal Brexit
Andrew Woodcock / The Independent   |   Mon, 29 Jul 2019 14:46:00

Ryanair hit by air fare battle and Brexit uncertainty

The airline reports a sharp fall in profits as it is forced to cut fares to drive up passenger numbers.
BBC   |   Mon, 29 Jul 2019 14:31:26

It's time for business to show some spine and come out against a no-deal Brexit | John Kampfner

The CBI has warned companies to step up their preparations. But where is the fury? They should be flexing their muscles Boris Johnson, Brexit and no deal are now ingrained in the national psyche. The government is to launch a mass advertising campaign aiming to "prepare" us for crashing out ...
John Kampfner / Guardian   |   Mon, 29 Jul 2019 14:04:07

Boris Johnson news: PM insists he can do new Brexit deal despite admitting EU leaders refusing to 'change their position'

UK on 'almost inevitable path to no-deal Brexit', warns Sturgeon after first meeting with PM
Chris Baynes, Benjamin Kentish, Lizzy Buchan / The Independent   |   Mon, 29 Jul 2019 14:01:00

A post-Brexit ‘Boris boom’? Stimulus, the pound beating expectations and a possible EU deal may make it happen

When the chips are down, and the outlook is bleak and all seems lost, perhaps it’s the moment to consider the alternatives. So much has been conjectured about Britain’s Brexit blues and the risk of a fatal crash out of Europe on bitter no-deal terms in three months’ time.But with ...
David Brown / South China Morning Post   |   Mon, 29 Jul 2019 14:00:11

UK: Difficult to force a no-deal Brexit - Danske Bank

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FX Street   |   Mon, 29 Jul 2019 13:43:26

Trump's trade wars, Brexit, and geopolitical strife is boosting Citigroup's trade finance business. But it might not last.

While many Wall Street businesses are suffering amid market turmoil, Citi's treasury and trade-services business is surging, the bank reported in its second-quarter earnings results. Amid Brexit, President Trump's trade wars, and other geopolitical flare ups, long-standing trade flows are shifting. China, once the largest importer of US soybeans, is ...
Alex Morrell / Money Game   |   Mon, 29 Jul 2019 13:33:00

Pound drops to lowest level in two years amid no-deal Brexit rhetoric

Sterling slips below $1.23 against US dollar and also falls sharply against the euro The pound has fallen to its lowest level for more than two years as investors react to the escalating no-deal rhetoric of Boris Johnson's government. Sterling slipped below $1.23 against the US dollar and fell sharply ...
Richard Partington Economics correspondent / Guardian   |   Mon, 29 Jul 2019 13:26:55

OANDA Market Insights podcast (episode 75)

OANDA Senior Market Analyst Craig Erlam previews the week's business and market news with Jazz FM Business Breakfast presenter Jonny Hart. This week Jonny and Craig discuss Boris Johnson's first few days as UK Prime Minister and what we've learned three months before the Brexit deadline, next week's BoE and ...
Craig Erlam / OANDA   |   Mon, 29 Jul 2019 13:25:55

GBP/USD technical analysis: Cable collapse to its lowest point since March 2017 as Brexit no-deal looms

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FX Street   |   Mon, 29 Jul 2019 13:16:49

Cable Crashes To 29-Month Lows As 'No-Deal' Brexit Looms

Sterling has plunged back below 1.23 for the first time since March 2017 after new U.K. Prime Minister Boris Johnson's first high-level Brexit cabinet meeting today. Unless the EU agrees to re-open negotiations, Johnson's top aide Michael Gove warns that a 'no deal' exit is the most likely outcome. "We ...
Tyler Durden / Zero Hedge   |   Mon, 29 Jul 2019 13:03:30

EU signals tighter financial market access after Brexit

Britain will not automatically have direct access to the European Union's financial markets after Brexit, even if it meets all the conditions set out by Brussels, under an EU policy document published on Monday.
Reuters   |   Mon, 29 Jul 2019 12:51:53

EU 'protected' from no-deal Brexit, Brussels insists

Comment comes as Johnson's adviser tells EU27 'not to underestimate' British prime minister
FT   |   Mon, 29 Jul 2019 12:46:40

UK plays Brexit hardball with 'stubborn' EU, pound tumbles to a 28-month low

Sterling slid to a 28-month low on Monday as Prime Minister Boris Johnson's government said it now assumed there would be a no-deal Brexit because a European Union was refusing to renegotiate their divorce.
Reuters   |   Mon, 29 Jul 2019 12:45:19

Breaking: GBP/USD crashes below 1.2300 as Boris Johnson turbo-charges no-deal Brexit

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FX Street   |   Mon, 29 Jul 2019 12:01:33

Boris Johnson won't start Brexit talks unless EU moves on backstop

UK PM's spokeswoman says Withdrawal Agreement 'needs to change if there is going to be a deal.'
Annabelle Dickson / Politico   |   Mon, 29 Jul 2019 11:48:59

UK mortgage lending perks up in Brexit lull, consumer credit softer

Britain's housing market appeared to benefit from a brief lull in Brexit worries last month, Bank of England data showed on Monday, but consumer lending growth was the weakest in over five years, adding to the mixed signals coming from the economy.
Reuters   |   Mon, 29 Jul 2019 11:46:10

Prospects Of A No-Deal Brexit Weigh On Sterling

Seeking Alpha   |   Mon, 29 Jul 2019 11:29:29

UK plays Brexit hardball with 'stubborn' EU, pound falls to a two-year low

Sterling hit a two-year low on Monday as Prime Minister Boris Johnson's government said it now assumed there would be a no-deal Brexit because a European Union was refusing to renegotiate their divorce.
Reuters   |   Mon, 29 Jul 2019 11:26:12

PM Johnson tells EU: Ready to talk Brexit when you shift position

British Prime Minister Boris Johnson has told EU leaders he will sit down for Brexit talks when they indicate that they are ready to shift position on the divorce deal, otherwise Britain will prepare for leaving without an agreement, his spokeswoman said.
Reuters   |   Mon, 29 Jul 2019 11:11:27