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The British currency is jumping on information that a trade deal may be in the offing in a few hours.
Illustration Image
Terje Bendiksby
An agreement between the UK and the EU on the post-Brexit situation may be in the offing in a few hours, EU sources reported to the AFP news agency.
The pound strengthened against the dollar and the euro in the information. Last week, the pound was at its weakest against the dollar in two years, at 1.36. On Wednesday, it strengthened 1.16 percent to 1.35. Against the euro, the pound strengthened 0.8 percent to 1.106.
The clock is ticking into the new year, and the negotiations apparently hinge on questions about the fishing rights of a few hundred million.
One possible solution, if an agreement is to be introduced before the New Year, will then be a temporary arrangement while awaiting formal processes.
In a meeting with the commission, the ambassadors of the 27 EU countries should have been told to be prepared for a meeting on Christmas Eve, in case there is an agreement, Reuters reports.
– It seems that an agreement is almost ready. It’s a matter of announcing it today or tomorrow, an EU diplomat told the news agency on Wednesday.
If there is no deal on Wednesday or Thursday, the dealers are expected to take a break, writes the AFP news agency.
On Tuesday, EU chief negotiator Michel Barnier said he had rejected the latest offer from his British counterpart David Frost.
An agreement on competition rules and the application of an agreement are also issues that have persisted to the end, but should be very close to a solution.
