Brexit headlines are like London buses, you wait ages for one then two come along at once

More crowing from the brexit brigade.

EU’s Barnier;

  • There will be no transition deal without an agreement on the divorce
  • If UK wants transition, it must accept rules that may change in EU
  • Brexit transition will last 21 months
  • Will need to ratify treaty before March 29th 2019
  • Still aiming to have the Brexit treaty text in October

UK’s Davis earlier;

  • Talks could go on longer than Oct
  • Doesn’t expect Art50 to be extended
  • Want’s a minimalist customs agreement after Brexit
  • A 3 year Brexit transition isn;t necessary
  • Expects an argument on the mutual recognition of financial services

No move in the pound or euro but we’re seeing a little bit of USD buying into the fix, likely to be stronegr due to end of month.


Ryan Littlestone

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