An agreement on the implementation of the Withdrawal Agreement helped the pound yesterday. This means that the controversial clauses of Internal Market Bill will be dropped, and the two sides have settled on an ‘agreement in principle’ on issues such as border control posts and the supply of medicines. This agreement will apply regardless of whether a trade deal is achieved or not.
This is a large breakthrough, however, sticking points remain. Boris Johnson will meet with President of the European Commission, Ursula von der Leyen today. It is hoped that this meeting will help to push a Brexit trade deal over the line, in time for it to be ratified before the December 31 deadline.
The two sides have said that the meeting will facilitate negotiations, so we could see talks continue into the end of the week. This morning, the pound looks choppy against the euro.
