Breaking: David Frost tells PM Johnson to prepare to shake on EU trade deal ‘early next week’
Brexit boss David Frost has told Boris Johnson to expect a Brussels trade deal “early next week”, The Sun has reported, sending GBP higher by some 0.3% vs the dollar in early Asia.
''Britain’s chief negotiator has pinpointed “a possible landing zone” as soon as next Tuesday.''
GBP/USD takes off
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The prospects of a deal have been improving over the recent weeks, but the time for which ratification of any agreement that can be struck in the 11th-hour has been shrinking.
Britain officially left the EU in January but its status-quo transition period, staying within the EU customs union and single market, will draw to a close on Dec. 31 and nearly 1 trillion dollars in annual trade is at stake.
However, as The Sun notes, ''talks could still collapse over fishing and red tape, with both sides urging the other to “get real”. The PM last night said he would not row back on his Brexit red lines amid claims Cabinet members are pushing for a climbdown.''
Markets have been pushed and pulled on such headlines for many years, so this may be taken as a pinch of salt until more definitive headways is announced.
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