UK and Brussels clash over £40bn Brexit divorce bill – FT

Anil Panchal FXStreet

In a latest Brexit update, published early Friday morning in Asia, the Financial Times (FT) said, “Brussels and London were on Thursday locked in a dispute over the size of the UK’s Brexit bill, after the EU suggested that Britain would be obliged to pay €47.5bn (£40.8bn) as part of its post-Brexit arrangements.”

“But the UK Treasury insisted that the Brexit divorce settlement remained within its previous central range of £35bn-£39bn. An updated estimate is to be published next week,” added FT.

Market reaction…

The divorce bill adds a barrier to the successful Brexit talks that recently linger over the Northern Ireland (NI) protocol and fishing rules. The same joins doubts over the UK’s July 19 unlock deadline to weigh on the GBP/USD prices around 1.3800 by the press time.

Read: GBP/USD consolidates lower in broad risk-off

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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