UK Brexit Minister Lord David Frost said on Twitter on Friday that the UK and EU had made further limited progress on medicines but we have not reached agreement.
1. @MarosSefcovic and I met by video today to wrap up this week's talks process about the Northern Ireland Protocol. We have made further limited progress on medicines but we have not reached agreement.— David Frost (@DavidGHFrost) December 10, 2021
2. I underlined the need for movement on all the difficult issues created by the Protocol, including customs, agrifood rules, subsidy policy, VAT / excise, & governance including the Court of Justice. We will not find a durable solution that does not deal with all these problems.— David Frost (@DavidGHFrost) December 10, 2021
3. Intensive talks will continue this coming week. @MarosSefcovic and I will talk twice to steer the process, in the hope of making worthwhile progress towards agreed solutions before Christmas.— David Frost (@DavidGHFrost) December 10, 2021
Follow us on Telegram
Stay updated of all the news
AUD/USD extends gains above 0.6700 amid subdued US Dollar
AUD/USD is trading firmer above 0.6700, having rallied to the highest in nearly two weeks on Wednesday after the Fed hiked rates by another 25bps, as expected. The dovish guidance by the Fed smashed the US Dollar alongside the Treasury bond yields.
EUR/USD re-attempts 1.0900 on dovish Fed-induced USD weakness
EUR/USD is trading near 1.0900, extending gains in early Thursday. The pair stays firmer amid a broadily depressed US Dollar. Investors are assessing the latest dovish outlook from the Fed ahead of the SNB and BoE policy outcomes, which could trigger fresh volatility surge across the FX board.
Gold approaches $1,980 as USD Index extends losses on Fed’s dovish guidance
Gold price is gathering strength to capture the immediate resistance of $1,980.00 in the Asian session. The precious metal has found demand as the US Dollar Index (DXY) has resumed its downside journey and fears of a US banking crisis have refreshed.
Binance market share could drop after abolishing most zero-fee trading, boosts TrueUSD stablecoin
Binance phased out almost all zero-fee buying and selling Bitcoin (BTC) along with multiple trading pairs from its platform after nine months on Wednesday. An exemption was allowed for the TrueUSD/Bitcoin (TUSD/BTC) pair. This built atop a March 10 move to quietly wind down BUSD auto-conversion.
Bank of England and Swiss National Bank both set to hike
The Bank of England and Swiss National Bank both make monetary policy announcements tomorrow, March 23. Our base case is for the Bank of England to raise its policy rate 25 basis points to 4.25% this week, and then pause tightening. However, an unexpected quickening of inflation has added some uncertainty to that outlook.