EU’s Michel: We want a Brexit deal but not at any cost

Dhwani Mehta FXStreet

Commenting on the Brexit standoff, the European Council President Charles Michel said on Wednesday, “we want a deal but not at any cost.”

Additional comments

The level playing field, it's a question of fair competition.

Stopping access to the UK waters would cost extraordinary damage to the EU fishing fleet.

We respect the UK sovereignty now.

We cannot have your cake and eat it.

We are determined to ensure all businesses follow the same principles when operating in our market.

Time is very short.

We stand ready to negotiate 24/7.

The UK has big decision to make.

The UK sovereign answer will determine level of access to the EU internal market.

Ready in case of no deal.

GBP/USD fades the uptick

GBP/USD ran into fresh offers at 1.3020 after the comments from the EU Council Chief Michel on the Brexit negotiations.

At the press time, the cable trades at 1.3007, still up 0.53% so far.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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