The United Kingdom left the EU on Jan. 31 but the main terms of its membership remain in place - including being in the EU customs union and single market - during a transition period until the end of this year, during which time both sides hope to negotiate a new free trade accord. … [Read more...] about UK says it’s confident of Brexit trade deal as EU changing tone
New border systems will be needed for the rest of the UK, and the EU and HMRC will be frustrated in designing them until the shape of the deal is known, possibly not until the summer. HMRC is short of key personnel and recently advertised for a deputy director to take charge of EU exit, who “will be responsible for providing the strategic direction for the project, delivering all the operational, communications and business changes needed in readiness for the UK’s exit.” … [Read more...] about What happens on Brexit day and what comes next?
Despite talks with the European Union stalling over state aid rules, Brexiteer Conservatives have alleged lucrative deals with international partners could be reached after London exited the EU. “The only thing we have to fear is fear itself. I think there is a huge opportunity. Do free trade deals, believe in ourselves,” Mr Johnson said ahead of the 2016 Exiting the European Union referendum. … [Read more...] about UK ‘Regulatory Autonomy’ to Suffer as Nations Demand More Control in Brexit Trade Talks, Study Finds
“Cable was ripe for some profit-taking after being overbought. And August is typically a very difficult month for risk-assets, including risk currencies like the pound,” said Kenneth Broux, FX strategist at Societe Generale, who expects cable to edge down further toward $1.28 or even $1.27. … [Read more...] about Sterling’s rally runs out of steam as dollar strengthens
Sterling had risen to a five-month high on Thursday after the Bank of England struck a less pessimistic tone about the coronavirus-battered British economy. nL8N2F82PZ] The central bank said the economy would not recover its pre-pandemic size until the end of 2021. … [Read more...] about Sterling falls on U.S.-China escalation, erasing gains from BoE meeting