Last week it was reported that the chief consultants from both sides Barnier and David Frost stated that they were working to reach an agreement although there were still significant gaps such as fishing, competition and administration issues.
On that basis, European Union Brexit chief negotiator Michel Barnier applied for some concessions from the UK before entering the final phase of negotiations on trade agreements.
Recent developments on Brexit negotiations today have added to the frustration with the EU stating that progress in trade negotiations with the UK is insufficient.
One of the diplomatic officials stated that there was an effort made but it was still not enough. Controversial issues have not yet received any final word.
The United Kingdom (UK) officially left the EU on 31 January but the UK withdrawal vote from the EU has been in place for the past four years as 52% voted for Brexit in the 2016 referendum. Now, both parties are bargaining over a trade deal. the end is on December 31st.
The GBP depreciated significantly against the US dollar by 0.75% to a reading of 1.2966 as of 9.30 p.m.
