Home Breaking Pound gains ground after ‘Brexit draft’ reports

Pound gains ground after ‘Brexit draft’ reports

by Purvai Dua
14th Nov 18 9:09 am

Sterling has risen against the dollar, although marginally, and is now trading at $1.2974. Against the euro, the pound is up 0.12 per cent.

The British cabinet will meet for an emergency meeting at 1400 GMT today to consider the 500-page draft withdrawal agreement, a Downing Street spokesman confirmed after Irish and British media were leaked details of the agreement on the text.

If PM Theresa May secures the support of her colleagues today, she will then launch a campaign to sell the deal to the country, beginning with a live televised media conference.

However former Brexit secretary David Davis said the UK had reached a “moment of truth” and urged his former colleagues to reject the proposals.

If the Cabinet approves the draft today, the EU’s chief negotiator Michel Barnier would have to report to the European Council that “decisive” progress has been made before Donald Tusk can convene a summit, probably in the last week of November.

Before this special meeting today, May also will face tricky questions from the Commons.

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