EU takes note of UK's Brexit transition period but need to agree on withdrawal terms first

EU Commission responding to the UK's latest Brexit offerings 15 Aug

  • UK's publication of of Brexit position papers "positive step towards no really starting Phase 1 of the negotiations"
  • we will now study the UK position paper on customs carefully
  • agreement on future relationship can only be finalised once UK has become a third country
  • working on UK position paper on customs issues related to orderly withdrawal of UK

Tick, tock, tick, tock.

Meanwhile GBPUSD 1.2923 with 1.2900-10 and 0.9100-05 holding post-data.

I think I have the new " not going to happen in a hurry" pic. Not so much can kicking more clock ticking.

Brexit talks- The clock is well and truly ticking

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