EU Brexit chief Barnier speaking at a German business conference

  • UK depends on the EU's single market
  • There are still conflicts concerning the European Court of Justice
  • Ireland remains a big problem in negotiations
  • Will have to secure the border between Ireland and Northern Ireland
  • Negotiations about finance are not finished yet
  • Brexit transition phase can't be too long, otherwise will breach Article 50
  • There will be no transition phase if there's no deal

More Brexit talks from Barnier today. Part one of his act can be found here.

GBP/USD inching back up above 1.3400 again, now to 1.3412. Meanwhile, EUR/USD is retreating from session highs to 1.1857.