British Prime Minister, Boris Johnson, is due to meet with the new president of the European Commission Ursula Von der Leyen in London on Wednesday for the first post-election Brexit trade talks. Ursula von der Leyen will meet the Prime Minister on Wednesday in Number 10 to discuss the opening positions of the EU and the UK in the upcoming negotiations.

The visit comes ahead of Britain’s expected exit from the EU on January 31, and will provide the first opportunity for Johnson to outline the UK’s opening position in talks, which are set to officially begin in February or March.

FX implications

The pound is set to move lower should negotiations point to a hard Brexit scenario. There could be volatility on each and every related headline at the extreme depending on sentiment.

  • GBP/USD Price Analysis: Pound pressuring the 1.3172 resistance vs. US dollar