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Original title: The EU is ready to implement the agreement, Johnson to announce the Brexit news! If the Brexit deal can be finalized,GBPIt is expected to shoot a thousand points
On December 23, it was reported that the trade agreement between the United Kingdom and Australia appeared to be nearing completion, and the European Union was said to have started preparations for its implementation.
GBP to USDIt once rose to 1.3571, the biggest daily gain in a week, and is currently trading near 1.3545. However, there are still EU and British officials who are relatively cautious about the bottom line. Societe Generale predicts that if a deal is struck, the pound will rise to around 1.45 against the dollar in 2021, which is about a thousand points above the current level. According to the latest report, British Prime Minister Johnson is expected to announce the Brexit news at 7 p.m. on December 24 Beijing time, and investors should pay close attention.
The framework of the Brexit trade agreement has been reached and the EU is studying the wording of the agreement
After nearly ten months of negotiations that often raised concerns,
On December 23, it was reported that the United Kingdom and the European Union had reached a framework for a post-Brexit trade agreement and are currently finalizing the drafting of the agreement.
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GBP to USD
It rose 1.6% to 1.3571, the biggest intraday gain in more than a week. Yields on 10-year UK government bonds are expected to post the biggest increase since March.
According to officials familiar with the situation, the deal has yet to be agreed upon by British Prime Minister Johnson and the European Union, which means there is still a chance that no deal will be reached, and if any news about the deal is announced , it may be several hours later.
British Prime Minister Johnson and European Commission President Von der Lein have personally intervened in recent days and spoken by phone several times to make one last attempt at a deal before Britain leaves the single market from the EU later this month. If a deal can be reached, it will end the nearly five-year negotiations since the 2016 Brexit referendum and lay the foundation for future trade and cooperation between the UK and the EU. Earlier this week, hundreds of trucks were congested near the port of Dover in southern Britain, a reminder of the consequences of failing to reach an agreement when the Brexit transition period ends on December 31.
A diplomat who understands the preparations said that if an agreement is reached, the European Commission will publish an unofficial draft text and send it to member states and the European Parliament. Under the plan, EU envoys in Brussels will have two days to discuss and approve the draft. Then the written procedure for signing the free trade agreement will begin, which can then be published in the official EU gazette before December 31.
A French official revealed that the UK has made “huge concessions” in the last 48 hours of negotiations, mainly on the issue of EU fishing in British waters. EU sources said British Prime Minister Johnson is willing to accept EU requirements for the fisheries sector.
There are still officials who are relatively cautious about the bottom line. The agency said that if a deal is reached, the pound is expected to rise to 1.45.
However, there are still EU officials cautious about the end result. A source at the European Commission said that although it has entered the “final stage”, consultations are still ongoing.
An EU official cautioned that the risk of a no-deal Brexit on January 1 cannot be ruled out, saying it is possible to compromise and not agree.
A British government source is also cautious, saying that consultations are ongoing. Another official with knowledge of the situation revealed that
The deal has yet to be agreed by British Prime Minister Johnson and the European Union, which means that no deal may yet be reached.
And if any news about the deal is announced, it may be several hours away.
According to the latest report, British Prime Minister Johnson is expected to announce Brexit at 11 a.m. local time on December 24 (7 p.m. Beijing time).
In addition to the upbeat news about Brexit, France’s lifting of the British passenger and cargo ban has also brought new momentum to the market. The pound continued to rise in early Asian trading on December 24 and is currently trading around 1.3530. The mutant strain found in the UK is said to be much more infectious. Previously, most of the world had closed its borders with the United Kingdom, prompting the country’s supermarkets to warn of food shortages.
As for the impact of Brexit advance on the pound, many institutions have also issued their own forecasts.
On December 23, Kit Juckes, Societe Generale’s chief currency strategist, stated in a report to clients: “
If an agreement is reached, I hopeGBP to USDIt will rise to around 1.45 in 2021
. He hinted that if Trump signed the aid stimulus and if the UK and EU reached a Brexit deal they are the influence.
GBP to USD
Two important events in the future.
Huitong.com recalls,
The EU is studying the wording of the agreement. Brexit is facing a critical moment. Investors should pay attention to the Brexit news released by Prime Minister Johnson on December 24, which will greatly affect the fate of the pound. If it says it can reach a Brexit deal, the pound is expected to rise 1,000 points to 1.45. Of course, the market has partially digested the expectation of reaching a deal earlier. If the pound doesn’t break resistance near the recent high of 1.3624 after the deal is reached, you need to watch out for the “boot landing” market (buying facts and buying expectations mean that the pound may be Dipping ).
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GBP to USD
Daily chart)
At 9:51 a.m. on December 24 Beijing time,
GBP to USD
Report 1.3544 / 46.
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