The pound weakened against the euro and the dollar yesterday but is trying to recover this morning. Reports released yesterday morning revealed that the EU had rejected the UK’s offer on fisheries, saying that it was not prepared to give up 30% of its current quota at some point in the future.
It is believed that the EU will not accept more than a 25% cut to EU catches in UK water. Talks between the EU Commission – who oversee negotiations – and EU countries with most interest in fisheries are also taking place. France and Denmark, in particular, are reportedly taking a hard stance towards the issue.
Newspapers also reported yesterday that the UK was willing to offer monetary compensation to EU fisherman in order to tempt more concessions from the EU.
Today, car production figures for November will be released. This will be the last UK economic data release before Christmas.
