Once upon a time, a few decades ago, every country in the EU had its own product specification regulations. Thus, if a company in the UK wanted to sell its electric toaster or hairdryer in Italy it had to submit an application in Italy and go through all of the form filling until it got approval and then it could start to sell its products.
Will we finally have a Brexit deal?
Latest on Brexit
The EU and the UK have entered into a period of intensive Brexit talks. It is still in the best interest of the EU and the UK to try and reach a trade agreement before the deadline at the end of the year. The EURGBP pair should find sellers on rallies higher as expectations of a deal breakthrough grow.