GBP/USD Retreats from 1-week highs as Brexit talks stall
The pound pulled away from a one-week high against the U.S. dollar , following reports Brexit negotiations between the U.K. and the European Union had stalled, further challenging British Prime Minister Theresa May's capacity to conclude a deal. Sterling was hit after EU chief negotiator Michel Barnier announced on Thursday that Brexit talks were at an "impasse. Barnier added that the U.K. had told the EU that it wasn't ready to specify how much the nation should pay in exit fees. British PM Theresa May had told parliament on Monday that there would be a two-year transition period following Britain's exit from the European Union. May also said that preparations were underway in the case Britain and the EU were unable to reach a deal on their future trade relationship.
Source: Investing
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