{"id":56795,"date":"2023-02-28T11:12:13","date_gmt":"2023-02-28T09:12:13","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=56795"},"modified":"2025-10-17T10:44:30","modified_gmt":"2025-10-17T07:44:30","slug":"the-possibility-of-a-new-brexit-deal-supports-the-pound","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/vi\/the-possibility-of-a-new-brexit-deal-supports-the-pound\/","title":{"rendered":"The possibility of a new Brexit deal supports the pound"},"content":{"rendered":"

The pound found some support yesterday on a fundamental level, reversing the downward motion of the last two days of the past week. As was expected, UK PM Sunak with EU chief Von der Leyen sealed a decisive breakthrough in the Brexit agreement, regarding Northern Ireland\u2019s trading agreements. The \u201cWindsor Framework\u201d as it was called by UK PM Sunak, would include a lowering of the trade barriers between Northern Ireland and Great Britain, the European Court of Justice still has oversight, Northern Ireland has a \u201cveto\u201d on new EU laws and key taxation rules are to be amended, while the approval of the deal is still pending with Northern Ireland\u2019s Unionist Party (DUP) playing a key role here. Overall, the deal seems to be getting support and tends to highlight the simplification of the trading arrangements of the UK with the EU, which in turn supported the GBP but also in general could provide some support for UK assets. Across the Atlantic, the USD was on the retreat against its counterparts yesterday, practically correcting lower after Friday\u2019s jump, due to the elevated Core PCE price index growth rate for January. We should note that the durable goods orders growth rate contracted more than expected, implying a lack of confidence on behalf of US businesses to actually invest in the US economy and may have contributed to the weakening of the USD.<\/p>\n\n\n\n

\n