Sterling Fell 1%, Brexit Uncertainty Came Back

Introduction:The British cabinet was scheduled to meet on Tuesday to approve the Brexit agreement, but was postponed. On the 9th, due to dissatisfaction with the progress of Brexit, the Minister of Transport became the 18th resignation member of Teresa Menet.

The guilt and quarrel of the British Prime Minister Theresa May’s cabinet on the issue of Brexit is exhausting the market’s patience and confidence in reaching a Brexit agreement.

The British "Daily Express" reported that on Monday, the British government postponed the Brexit meeting scheduled to be held on Tuesday (planned to approve the Brexit agreement at the meeting), dragging down the pound. The pound fell nearly 1% against the dollar in the day, at 1.2841. The pound against the euro also ended the past week's gains, falling nearly 0.25%.

Moreover, there are constantly important members who resign from the cabinet, seriously interfere with the "military heart", shake the power base and personal prestige of Teresa May, and Teresa Meco is said to be embattled.

On November 9, the British Minister of Transportation, Jo Johnson, announced his resignation because he was dissatisfied with the progress of the Brexit negotiations in Britain. This is the 18th minister who resigned from the Teresa May government. Joe Johnson is the younger brother of former British Foreign Secretary Boris Johnson. In July this year, Boris Johnson announced his resignation because he was dissatisfied with the "Brexit" negotiations.

The British "Financial Times" said that Teresa May is still facing the threat of resignation from several pro-European ministers, and the opposition Labor Party said it would prevent Brexit without agreement.

In the Brexit negotiations between the UK and the EU, the “hard border” issue in Ireland and Northern Ireland remains the most difficult bone. The UK believes that hard borders will challenge its sovereignty and will lead to Northern Ireland being annexed by the EU, and the EU says that if there is no hard border, the UK needs to remain in a unified customs union, but this means “semi-de-European”, Theresa · Mei’s cabinet has been too noisy for this.

However, it took less than five months to leave the UK with the Brexit agreement.

It seems that the initiative is still in the hands of the EU. European Commission President Juncker told France 24 that the agreement will be reached in the next few weeks. He said that Brexit is already a tragedy. "We don't have to add new tragic moments to the already existing tragedy."