Brexit negotiators move close to breaking key impasse over fish – Bloomberg

Anil Panchal FXStreet

Late-Sunday in the US, early Monday in Asia, Bloomberg came out with the news conveying that the Brexit negotiations from the European Union (EU) and the UK are close to overcoming the key hurdle, i.e. fisheries, after the eight months of deadlock.

The fishing quota for the bloc…

The report mentions the fishing limit for the region’s boats as a likely solution to the problem ahead of this week’s negotiations.

“The potential solution would allow Britain to claim it has won back control of its seas -- a key government demand -- and pave the way for the country’s fishing industry to catch more than it does currently,” said Bloomberg, “But, significantly, it could defer crucial decisions over the exact quotas EU boats are allocated until a later date -- meaning EU boats wouldn’t lose out immediately, and any disagreements over how the catch is divided up in the future wouldn’t necessarily torpedo the wider deal.”

On a different page, the BBC quotes France’s Europe Minister, Clement Beaune while citing “cautious optimism” while conveying the round-the-clock talks in Brussels over the weekend and important discussions during this week.

GBP/USD stays depressed on COVID-19 woes…

With the coronavirus (COVID-19) resurgence in the UK recalling the national lockdowns, GBP/USD remains pressured below the 1.3000 threshold while paying less praise to the Brexit headlines.

Also read: UK PM Boris Johnson announces new nationwide lockdown to curb coronavirus

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.

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