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
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.