British Prime Minister Boris Johnson will make a statement on the Brexit negotiations at 19:00 GMT. A barrage of speculation from the British and European press on Wednesday suggests a deal is about to be reached, and that an announcement could come tonight. Indeed, it seems likely that the purpose of Johnson’s statement, to be made from his podium in front of 10 Downing Street, is to announce that an agreement has been reached (at least in principle).
This comes after the UK made a significantly improved offer on fisheries to the EU in the last 48 hours and amid continuous and near constant contact between Johnson and EU Commission President Ursula von der Leyen, who will also make a statement later Wednesday.
Market reaction
The news confirms previous speculations that an announcement could come as early as 19:00 GMT. The GBP has already seen a significant rally on the day, with the GBP/USD rising around 1.0% coming close to 1.3500 and EUR / GBP lost 0.8% and trading around 0.9030. It seems likely that confirmation of a Brexit deal by the Prime Minister will give the GBP a boost (GBP / USD is likely to move above 1.3500 again and EUR / GBP could break below 0.9000).
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
