Blog: EU sounds tough on Brexit, South China Sea but welcomes US tourists, EUR/USD cheers US dollar weakness – FXStreet

The European Union (EU) gains market’s attention with its tough stand versus the UK over Brexit ahead of the April 27 deal deadline. Also highlighting the bloc are the headlines conveying the geopolitical risks in the South China Sea and readiness to welcome the US tourists during the summer holidays.

Earlier in Asia, The Times came out with the news suggesting Brussels push to Britain for an easy Brexit deal. The news piece mentions, “Commission negotiators have told the UK that the EU will drop its demand for checks on food crossing into Northern Ireland if the government aligns itself with all EU plant, animal health, environment and food safety rules.”

On the same line, Reuters print the EU-China tension while saying, “The European Union called out China on Saturday for endangering peace in the South China Sea and urged all parties to abide by a 2016 tribunal ruling which rejected most of China’s claim to sovereignty in the sea, but which Beijing has rejected.”

Elsewhere, the region stays ready to welcome the US tourists, per the New York Times (NYT). The piece says, “American tourists who have been fully vaccinated against Covid-19 will be able to visit the European Union over the summer, the head of the bloc’s executive body said in an interview with The New York Times on Sunday, more than a year after shutting down nonessential travel from most countries to limit the spread of the coronavirus.”

FX implications

Amid these plays, EUR/USD benefits from the US dollar weakness while piercing the 1.2100 threshold, up 0.10% intraday by the press time.

Read: EUR/USD Price Analysis: Bulls battle 1.2100 on the way to key hurdles

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