News out yesterday from the European Court of Justice
This story crept under the wires when it broke but our eagle-eyed long-time reader Lilac was up to the task of noting it.
This from The Telegraph:
Britain's ambition to sign a quick Free Trade Agreement with the European Union after Brexit has received a significant boost after a landmark ruling by the European Court of Justice handed expanded trade negotiation powers to Brussels.
The much-anticipated decision from the court in Luxembourg surprised experts by ruling that on key areas - including financial services and transport - the European Union does not need to seek ratification of a trade deal by the EU's 38 national and local parliaments.
Trade experts said the ECJ ruling could substantially reduce the risk of any future EU-UK free trade agreement getting bogged down in the EU national parliaments, opening the way for an FTA to be agreed by a qualified majority vote of EU member states.
The news came out as GBP was in decline yesterday after the UK inflation-led spike and it's reasonable to assume that the pound will have found a bit of support from the news.
In any case, be advised and informed.
More from the Telegraph here
GBPUSD currently 1.2933 after once again holding strong support at 1.2850 again yesterday, an area which I have been highlighting for a while now.
See? I don't just post bearish GBP info!
