Their negotiations have been stuck for months on key differences over fishing rights, competition rules and governance over their future deal. Failure to bridge these differences by the end of the year will mean no trade agreement, and higher costs for exporters on both sides.
“Both are going to have to give a little,” Rahman said. “I don’t think there will be a deal this week,” he added, but said a deal was possible later this month. Valentin Marinov, head of G10 forex research at Crédit Agricole, also told CNBC on Monday that he expects a deal before the end of the year.
The U.K.’s chief Brexit negotiator David Frost said on Sunday that there had been “some progress in a positive direction in recent days,” adding that talks might still collapse and therefore businesses should prepare for potential disruption in January.
The British pound was hovering around $1.317 on Monday morning. The currency is currently trading around the level it was at the start of the year, after a massive plunge in March in the wake of the first coronavirus wave in Europe.
Source Article from https://www.cnbc.com/2020/11/16/uk-boris-johnson-isolating-as-brexit-talks-drag-on.html
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