Sterling gyrates as UK seeks another Brexit delay

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Sterling gyrates as UK seeks another Brexit delay
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Theresa May is traveling to Berlin and Paris on Tuesday for talks with the German Chancellor Angela Merkel and French President Emmanuel Macron

Sterling whipsawed Tuesday after one media report that the German Chancellor Angela Merkel was considering a 5-year time limit on the Northern Ireland backstop clause within the withdrawal agreement.

Barnier said Tuesday that the EU may grant another Brexit delay, but only if U.K. cross-party talks can produce a positive outcome. Speaking at the General Affairs Council in Luxembourg on Tuesday, Michel Barnier, highlighted that the addition of a customs union to the agreed future relationship could provide the means for an extension.

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