Sterling dives as Barnier reveals 'disturbing deadlock' in Brexit negotiations

Warning talks unlikely to progress

Mike Sheen
clock • 1 min read

The pound has suffered further falls following claims from EU chief negotiator Michel Barnier that Brexit talks between the UK and the bloc were in a state of "deadlock".

The UK currency is down 0.7% to $1.3134 on an intraday basis, having started the day with a small rise, following the speeches given by Barnier and UK counterpart David Davis. Meanwhile, the FTSE 100 index has benefitted from the currency fall, rising 0.4% to 7,564, its higher level in 12 months. Ireland makes Brexit 'back-up' plan Barnier said a lack of clarity over the so-called EU divorce bill, which could see the UK paying the EU billions of pounds, was a key aspect holding back talks. He said: "On this question, we have reached a state of deadlock which is very disturbing f...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Markets

How big an impact could global elections have on portfolio allocation in 2024?

How big an impact could global elections have on portfolio allocation in 2024?

US, UK and India main focuses

Investment Week
clock 19 February 2024 • 8 min read
Hotter than expected US inflation tempers Fed rate cut expectations

Hotter than expected US inflation tempers Fed rate cut expectations

Annual price growth falls to 3.1%

clock 13 February 2024 • 1 min read
Investors turn defensive in January as rate cut expectations change

Investors turn defensive in January as rate cut expectations change

State Street Risk Appetite index

clock 08 February 2024 • 1 min read
Trustpilot