UK must react to EU position on divorce bill

The EU's Brexit negotiator Guy Verhofstadt is on the wires saying the UK are dragging their feet on Brexit negotiations.

  • Brexit talks need to move to actual negotiations
  • Cites slow progress in general in the talks
  • Says a "No Deal" on Brexit is no longer an option
  • Growing recognition transitional periods needed
  • We will need transitional period after Brexit
  • UK must react to EU postion on Divorce Bill
  • Expects no breakthroughs this week.
  • Sufficient progress by Oct. may be difficult.

On Monday, Verhofstadt has insisted the UK must agree to settle its divorce bill before trade talks can begin. The UK's financial settlement is one of the most contentious aspects of the talks and could reach as high as £92B. That is a lot of dough.

The GBPUSD currently trades above MAs below including the 100 day MA at 1.2900. That is a key level for trading today. We currently trade at 1.2916.