Pound steady after Brexit postponed


The British pound managed to curb the sharp decline on Thursday evening after news that the European Union would be prepared to postpone the Brexit until 22 May.

The British pound fell by 0.6% against the euro at € 1.1495 at around 7.30 p.m. (Dutch time) after having previously fallen back to € 1.1460.

The 27 heads of government are still discussing the issue after they had spoken to Prime Minister Theresa May for nearly two hours about her request for a postponement until 30 June. This date encounters objections because European elections are being held between 23 and 26 May. May does not want to participate under any circumstances. An extension beyond 22 May is therefore not possible, according to the draft statement.

It is expected that May will present the withdrawal agreement to her parliament for the third time next week. If the House of Commons then says no again, a new EU summit may follow on Thursday, one day before the current brexit date of 29 March.



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