German Chancellor Angela Merkel has said: “Currently we have more or less the same legal system, a harmonized legal system, but over the years the legal systems will diverge with respect to environmental, labor, health legislation, everywhere“This has been seen as a clue to a engagement with the UK on the delicate issue of rule alignment, also known as a level playing field.
The GBP / USD has extended its gains and reaches the level of 1.3438 at time of writing, close to weekly highs.
Merkel’s comments occur before a summit between British Prime Minister Boris Johnson and the President of the European Commission, Ursula von der Leyen, at 19:00 GMT. The leaders will meet over dinner and try to reach an agreement. Previously, Michael Gove, a senior British minister, has said there is room for a compromise on fisheries.
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