GBP : Breaking Brexit

(Fri, 2 Oct 2020). GBP/USD bounced in reaction to reports that UK PM Johnson and EU President Von Der Leyen will have a meeting tomorrow to take stock of negotiations and discuss next steps. On initial thoughts, this seems reminiscent of last year’s meeting between Johnson and Varadkar to break the Brexit deadlock.

The final round of formal negotiations appeared to have not gone as well as hoped, with EU Official’s not sharing the same optimism that their UK counterparts have over enough progress being made to move talks into the tunnel phase. That said, this could be the make or break moment with high level political intervention needed to reach a compromise.

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