While the UK threatened to do away with the terms of the divorce treaty with the European Union (EU) last week, the Kingdom offered tentative concessions on fisheries in trade talks with the bloc, Reuters reported, citing two EU diplomatic sources.
“The sources described the offer as a possible bid by London to overcome a key obstacle to a new trade deal from 2021.”
“It also suggested London might still be open to clinching an agreement despite a crisis in Brexit talks over Britain’s Internal Market bill which, if passed by parliament as proposed, would breach Britain’s international legal obligations as well as the EU divorce treaty.”
“The UK definitely seems to be coming around on this, they seem to be moving cautiously towards some opening on fisheries in the technical talks.”
“A tentative, modest move on fisheries after Britain this summer pushed a more rigid line, which the EU has rejected.”
GBP/USD cheers the above headlines while battling 1.2900, up 0.10% on the day.