RTE News reports
The tweet by RTE's Europe editor, Tony Connelly, reads:
BREAKING: European Commission President Ursula von der Leyen will make a statement on Brexit at 11hr CET. @rtenews understands that legal action against the United Kingdom is imminent and that a draft "letter of formal notice" has been finalised, triggering legal action.The letter of formal notice focuses on a breach of the "good faith" articles (4 & 5) of the Withdrawal Agreement, and it will also state that if the Internal Market Bill becomes law it would be further breach of EU + international law.
That just adds to the Brexit pessimism to the pound this morning, with cable touching session lows of 1.2862 on the news here. In any case, watch out for von der Leyen's speech at the top of the hour i.e. 0900 GMT.
