Brexit: EU and UK negotiator are struggling to make headway

Omkar Godbole FXStreet Contributor

The UK PM Theresa May continues to assure markets that the pace of Brexit negotiations is accelerating, however, the reality is that the deal is unlikely to be wrapped up in the next seven weeks.

Both sides now aim to finalize the divorce terms by the middle of November at the latest, according to Bloomberg.

The delay indicates that the negotiators are struggling to reach a common ground, possibly on the sensitive topic: how to guarantee there will never be a hard border between the UK province of Northern Ireland and the Republic of Ireland.

If the deadline is pushed back again into December or January, both sides would face perilous choices over whether to give ground or give up on talks, a Bloomberg report said.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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