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Oct 12 - 10:55 AM

GBP: Brexit Tensions Set To Rise Again This Week - MUFG

By eFXdata  —  Oct 12 - 09:30 AM

MUFG Research notes that supply chain problems remain in focus in the UK as Brexit tensions set to rise again this week.

"The UK’s Brexit minister David Frost is set to call for a “significant change” to the Northern Ireland Protocol in a speech in Lisbon later today including removing oversight by the EU’s top court which is central to the their bid to renegotiate the deal. The UK wants to settle the issue by November. It puts the UK on collision course with the EU ahead of the publication of a paper by the European Commission on Wednesday setting out proposals to reduce customs and regulatory checks on goods going from Great Britain to Northern Ireland that were mandated by the protocol," MUFG notes. 

"While the negotiations are not expected to blow up immediately, they do pose the risk of further disruption to the UK economy from Brexit at a time when supply side problems are currently very much in focus for market participants," MUFG adds.

Source:
MUFG Research/Market Commentary

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