Brexit update: Very large gaps remain between the two sides

Ross J Burland FXStreet

With only weeks to the end of the Brexit transition period, traders were hopeful that a face-to-face meeting between Johnson and Commission chief Ursula von der Leyen can break the deadlock.

Ahead of the meeting, Johnson warned the European Union must scrap demands that he said were unacceptable if there was to be a Brexit trade deal.

However, in recent trade, a senior UK source has said that very large gaps remain between the two sides and it has been agreed that by Sunday a firm decision should be taken about the future of the talks.

The European commission president Ursula von der Leyen also stated, ''we gained a clear understanding of each others´ positions. they remain far apart.''

Market implications

EUR/GBP has rallied to a high of 0.9060.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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