“It is in the interest of the UK and the EU to reach an agreement on the equivalence of financial services,” he said on Monday. British Finance Minister Rish Sunak. Sunak further noted that there are many areas where the EU will not agree to equivalency with the UK.
Additional conclusions
“Without clarity from the EU, we are acting unilaterally to provide clarity.”
“We will use the equivalency where it is in the economic interest of the UK to take a technical approach.”
“We will launch a call for evidence on the overseas regime.”
“We will consult on the reform of the UK regime for mutual funds.”
“We will treat UK financial services exports to the EU in a similar way to other jurisdictions.”
Market reaction
These comments were largely ignored by market participants and the pair. GBP/USD it was last seen shedding 0.2% on the day at 1.3128.
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Credits: Forex Street
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