Some positive tones in EU Brexit documents has given GBP a boost.

David Davis kicked off today’s Brexfest with some postive comments on negotiations and transitions.

  • Thinks there’s a very good prospect of negotiating bespoke transitional arrangements with the EU
  • He wants transition arrangements to stay close to EU membership

Following that, the EU has released some Brexit papers, which include a document on the Irish border issue. The doc basically says that due to the history, uniqueness and releationshp of both the UK and IRelend, the EU is happy to let both Ireland and the UK sort out an arrangement. See the full paper below.

EU Ireland border paper 07 09 2017

The rest of the papers can be found here, including one on customs.

The pound has risen across the board and has just broken up through 1.3100. While this news is far from any real final agreement, the EU taking a compromisng tone in this case suggests that a softer Brexit might be on the cards. As ever, there’s a long way to go and the EU might just be showing a soft hand here to be able to show a hard one over other issues.

Ryan Littlestone

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