Pound Erases Losses as UK EU

FxPremiere.com – FX Signals | The pound pared losses on Tuesday as the U.K. dropped parts of its controversial internal market bill, paving the way for both sides to meet in Brussels on Wednesday to clinch an agreement.

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GBP/USD fell 0.09% to $1.3364, but had slumped to a session low of $1.3291 earlier in the day.

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The U.K. government reached a post-Brexit arrangement in principle over the Irish border with the European Union after agreeing to ditch the most controversial parts of its internal markets bill.

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But the bill — a source of contention among EU leaders as it clashes with key terms of the withdrawal agreement requiring that Northern Ireland, in the post-Brexit period;

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Market participants appear hopeful, however, that Prime Minister Boris Johnson and European ;

The “fact that both sides are unwilling to end the negotiations and to expose themselves to the accusation of not having done everything to reach an agreement is indeed a GBP-positive signal,” Commerzbank (DE:CBKG) said in a note.

Both sides on Monday admitted that significant differences remain on three critical issues: level playing field, governance, and fisheries.

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Britain reiterated hat talks would not be dragged on into the new year.

The U.K. and EU have until the end of the year to reach a deal, or run the risk of having to impose taxes on each other’s goods.

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Pound Erases Losses as UK EU | Dollar drops low

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Pound Erases Losses as UK EU