The pound is still volatile this morning as it reacts to news from the EU summit. It weakened early this morning on news that EU leaders said that negotiations should continue, but added that the UK should make the concessions necessary to strike a deal.
The UK’s Chief Negotiator, David Frost, said he is “Disappointed by the European Council conclusions on UK/EU negotiations. Surprised EU is no longer committed to working “intensively” to reach a future partnership as agreed with Ursula von der Leyen.” He also added that he was “surprised” by the suggestion that all future moves should come from the UK.
The Prime Minister is expected to set out the UK’s next steps today, following the comments from EU leaders. It’s likely that the pound could respond to any announcement.
