Brexit: Britain and EU 'will rip each other apart' in trade talks – The Guardian

Anil Panchal FXStreet

While depending upon the comments from French foreign minister Jean-Yves Le Drian, The Guardian came out with the Brexit-negative news on Sunday. The French diplomat is cited turning down the hopes of a Brexit deal between the UK and the EU while speaking at the Munich Security Forum.

Key quotes

French foreign minister says it will be hard for the UK to strike a deal by end of the year given differences

‘I think on trade issues and the mechanism for future relations, which we are going to start on, we are going to rip each other apart.’

He added that on his desk in his office he had massive files showing the issues of contention between the UK and France, including over fishing rights.

'Let us hope that it is done as quickly as possible even if there are many subjects and that we have substantial points to manage,' said Le Drian. 'I have one in particular (...) which is the question of fish'.

FX implications

The news joins the weekend headlines from The Telegraph, suggesting the UK to refuse to abide by EU rules on tax and workers' rights while flashing a negative signal for the British pound. With this, the GBP/USD pair trades mildly weaker to 1.3040 by the press time of early Monday morning in Asia.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD shifts its attention to 1.1900 and above

EUR/USD has shaken off Tuesday’s dip, pushing back beyond the 1.1800 mark amid decent gains as Wednesday’s session draws to a close. The rebound is largely driven by a modest pullback in the US Dollar, as markets digest the aftermath of President Trump’s SOTU speech and continue to monitor trade-related headlines and signals from the White House.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

UK financial watchdog advances stablecoin oversight as four firms pilot issuance

The Financial Conduct Authority (FCA) in the United Kingdom (UK) is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.