Pound Traders Look to May, Corbyn for Vital Brexit Clarity
- Corbyn to outline Brexit stance Monday, May on Friday
- Labour backing customs union would drive sterling: BNY Mellon
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For pound traders seeking some degree of clarity on Brexit negotiations, speeches by Britain’s Prime Minister and the leader of the opposition will prove crucial this week.
Theresa May may have succeeded in uniting her cabinet to back an ambitious trade deal with the European Union, yet sterling gains versus the dollar are likely to remain capped by doubts on whether such demands will be accepted by her European peers. May is scheduled to outline her plan on the future relationship in a speech on March 2, after Labour leader Jeremy Corbyn sets out his party’s Brexit position on Monday.