Pound Slides as EU’s Barnier Says Brexit Talks at ‘Deadlock’
- Equal and opposite forces driving the currency, Mizuho says
- Brexit-related uncertainty is ‘poisonous’ for pound: Nordea
Barnier Says Brexit Talks Have Reached 'Deadlock'
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The pound is caught in a tug-of-war between bulls and bears.
While the currency rallied the most in four years last month after the Bank of England signaled that it may be ready to raise interest rates, sterling has since pared about half of those gains on concern that the U.K.’s talks with the EU on Brexit are making little progress at a time when Prime Minister Theresa May is struggling to assert her authority within her own party.