EU and UK negotiators turn to review clauses in bid to unlock Brexit deal – FT

Brexit negotiators from the European Union (EU) and the UK are eyeing interim plans to break the deadlock over the trade talks, per the Financial Times (FT). The option suggests the possibility that parts of the deal could be revisited several years after they take effect.

Both sides are struggling to have a Brexit deal before the December 31 deadline with the latest halt in the negotiations came due to the EU’s Chief Negotiator Michel Barnier’s team member testing positive on the coronavirus (COVID-19). The talks will resume in London from Friday, said the news, if depending on the results of Covid-19 tests.

The Brexit update also mentioned that UK PM Boris Johnson is ready to speak to European Commission president Ursula von der Leyen later in the week to consider progress.

FX implications

GBP/USD regains 1.3300, currently around 1.3325 after the news helped it bounce off 1.3264.