EUR/GBP Exchange Rate Rises as Brexit Talks Enter ‘Critical Moment’
The Euro to Pound (EUR/GBP) exchange rate rose by 0.4% today, with the pairing currently trading around £1.216.
The Pound (GBP) fell today following news that UK-EU trade talks remain in a deadlock on fishing rights.
As a result, GBP investors are becoming more concerned about the rising possibility of the UK leaving the EU without a post-Brexit trade deal on January 1st.
Michel Barnier, the EU’s Chief Negotiator, said that talks had hit a crucial stage, saying:
‘We are really in the crucial moment. We are giving it the final push. In ten days, the UK will leave the single market and we continue to work in total transparency with the member states right now and with the parliament.’