Brexit: A Brexit deal appears to be taking shape - Telegraph
|- A Brexit deal could be taking shape following overnight negotiations.
- But even if a deal is agreed, there will then be the challenge of getting it through the UK Parliament - ANZ
A Brexit deal appears to be taking shape according to an article in the Daily Telegraph recently published - Sources in Brussels and London told the paper there was “cautious optimism. The article stated that sources on both sides of the Channel said a positive day of negotiations had yielded a potential solution to the Northern Irish border problem.
Sources in Brussels and London told The Daily Telegraph there was “cautious optimism” that a narrow path to a deal could now be appearing - a marked shift in tone from the downbeat assessment from the EU’s chief negotiator Michel Barnier on Sunday.
With talks on a knife-edge, Boris Johnson cancelled Tuesday’s planned meeting of his Cabinet in order to avoid the potential for leaks that could derail the delicate talks.
FX implications:
This follows a sour performance overnight in GBP as EU negotiator Michel Barnier said Johnson’s Irish border plan needed more detail and could undermine the single market. "A deal needs to be agreed before the EU Summit on Thursday, or Brexit must be delayed under British law. The Irish deputy PM re-iterated that a deal is possible but he did stress caution. But even if a deal is agreed, there will then be the challenge of getting it through the UK Parliament. A general election remains likely," analysts at ANZ Bank explained - GBP is likely to remain volatile.
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