Sterling Drops as Final Push Made by The UK & The EU For Post-Brexit Deal Inconclusive



 On Monday afternoon both the UK and the European Union are in ongoing talks at Brussels for a final push, to try and clinch a post-Brexit trade deal. However, differences remain in three key areas which are fisheries, competition rules and the governance of a potential deal between the two.

 A UK spokesperson confirmed that no compromise has been reached on these three issues and also said that time is in “very short supply” and that the UK was willing to negotiate until the last possible moment.

 On Monday morning, with no deal in sight, the Sterling or GBP fell sharply against the dollar. It traded at $1.3230 during morning deals, a fall of 1.5% for the session.

Even if they strike a last-minute deal there could be problems as the UK put forward legislation. Not yet approved, that would override parts of the Withdrawal Agreement approved in the beginning of the year.

 The European Union has said that it will not accept any new trade agreement until the UK government changes its position to fully comply with the accord that had previously been reached by the two parties in question.

 Although the UK left the EU in January, it agreed to follow trade rules till the end of the year. However, new trade agreements have dragged on and it is feared that there will not be a new deal before the transition period ends.

 Source CNBC Europe News


Follow us on Google news for more updates and News


This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.

Full Disclaimer

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.