The pound is weaker against the euro and the dollar this morning, ahead of the EU summit later today. Leaders of the EU’s 27 member states will address the outstanding issues in negotiations, such as fisheries and the level playing field. They are expected to make a final push for concessions from the UK.
There is speculation that a deal could be agreed as early as next week. However, tough political compromises will need to be made before this happens. EU leaders are demanding that no-deal plans are revealed to allow for businesses to put contingency plans into place.
Yesterday, the House of Lords voted to amend the Internal Market Bill and also to curb ministers’ powers to rewrite parts of the bill at a later stage. MPs in the House of Commons will now have to decide whether to accept or reject these amendments.
