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Pound Falters on Report of May's Rejection of EU Brexit Plans

  • News shows ‘still too early’ to predict GBP strength: Danske
  • May is meeting EU leaders at summit in Salzburg, Austria
Bloomberg business news
U.K., EU Aim to Break Brexit Deadlock as Time Runs Out
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The pound erased an earlier advance after The Times reported that U.K. Prime Minister Theresa May was preparing to reject the European Union’s improved offer to solve the Irish border issue.

Sterling dipped to its session low after the report, which cited a senior government source, said that May will appeal to EU leaders to move away from the bloc’s chief Brexit negotiator Michel Barnier’s position. The British PM is meeting with EU leaders at a summit in Salzburg, Austria. The pound had earlier rallied after stronger-than forecast inflation data.