UK PM May to concede that EU law will influence UK long after Brexit – Govt paper

In a government position paper that will seek to bypass just the European Court of Justice’s (ECJ) “direct jurisdiction” and not all of its control, the UK PM Theresa May is expected to comprise the UK’s stance to hasten divorce talks with the European Union.

The government paper is due to be published later on Wednesday, with markets expecting May to concede that EU law will influence the UK long after Brexit, Bloomberg reports.

The GBP/USD pair extends its slide and reached its lowest levels in eight weeks sub-1.28 handle, as the UK softens its Brexit stance on the EU court.