The pound has fallen below the $1.31 mark today following the report that Theresa May is set to reject the European Union’s ‘”improved” offer on the Irish border.
May is expected to tell EU leaders meeting in Salzburg today that any solution must be for the entire UK and that her existing “Chequers” proposals were designed to address this, the Times reported.
This development comes a day after the EU’s chief negotiator, Michel Barnier, had said that the EU was preparing to table a new “backstop” proposal that he hoped the government would be able to support.
The prime minister will also hold bilateral meetings on Thursday with the European Council president Donald Tusk as well as Leo Varadkar, as she seeks to end the impasse over the future of the UK’s only land border.
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