Brexit negotiators want to conclude talks by the end of November to ensure in which there can be enough time to get the deal approved by all Parliaments. However, there are divergences about their future relationship, including what’s going to happen to the Irish border. This particular has prevented negotiations by being concluded.
Political analysts along with investors have become particularly worried about the prospects of a no-deal over the summer, following several comments by U.K. officials, including the Governor of the Bank of England. Mark Carney who said in early August in which the risk of a no-deal can be “uncomfortably high.”
The sterling has lost nearly 10 percent of its value against the dollar since Brexit. The currency has seen a lot of volatility since the referendum vote on June 23. While the initial moves were dramatic, plunging by the highs of $1.50 to a 31-year low of $1.32, the pound continues to remain under pressure at current levels of $1.30. So far, on Thursday morning, sterling seemed muted to the Brexit developments.
Despite the preparations for a no-deal, both the U.K. along with the EU are still saying they are working towards a deal. European Commission President Jean-Claude Juncker in his State of the Union address on Wednesday said in which the EU stands ready to work “day along with night” to find an agreement with the U.K. over Brexit.
However, Juncker also warned in which the U.K. needs to be reasonable. “however we also ask the British government to understand in which someone who leaves the Union cannot be from the same privileged position as a member State,” he said.
Meanwhile, Brexit chief Raab told the BBC Thursday morning in which Brexit talks will be intensified over the coming weeks along with in which he can be confident in which a deal will be achieved.