Published On: Tue, Apr 9th, 2019

Pound LIVE: GBP Sterling ‘quiet’ as Theresa May braces for Macron and Merkel Brexit talks | City & Business | Finance

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Sterling made gains shortly after 8am as investors kept their eyes on Brexit movements, which today will see Mrs May head to Paris and Berlin as she seeks support for another extension. As of 9.28am UK time, the pound had fallen back slightly to trade at €1.1595 against the euro and $1.3065 versus the US dollar.  Connor Campbell, analyst at Spreadex, said: “With Theresa May set for a pair of Brexit pit stops in Paris and Berlin ahead of tomorrow’s hugely important emergency EU summit… the pound was pretty quiet. “Big movements may be saved for Wednesday evening or Thursday morning, when it’ll be clearer whether or not we are leaving the EU on Friday.”

The Prime Minister meeting with the German Chancellor and French President Emmanuel comes ahead of a crunch EU summit on Wednesday.

Mrs May will be looking for Mrs Merkel and Mr Macron to back an extension of the UK leaving the European Union, of which the current default position is for a no-deal Brexit to take place at 11pm on this Friday, 12 April.

All 27 remaining EU heads of government must agree to an extension if the UK is to be granted more time to negotiate terms of exiting the bloc.

Mrs May is expected to ask the EU for an extension to June 30 in order to get a deal through Parliament.

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