Sterling tumbles today as Brexit optimism is put into question again. It’s reported that Brexit Minister Dominic Raab is not going to Brussels this week for the talk on Irish border. And, Prime Minister Theresa May’s office doesn’t expect a deal at the European Council next week.
May’s spokesman is also quoted saying that the withdrawal deal with EU will not be agreed without securing a “precise future framework” on relationship. The spokesman also emphasized that there’s a difference between optimistic talk and getting an agreement. He urged EU to move it position.
Separately, according to a document seen by Reuters, EU insisted that it’s own Irish border backstop proposal as “pragmatic” that “built on existing health checks on animals and agricultural goods between mainland Britain and Northern Ireland.