Yesterday there were reports that the European Union (EU) and UK trade negotiators failed to close the gap in negotiations on national aid issues.
The report also states that although the EU and the UK have agreed to reach an agreement on time, the final agreement from the EU will depend on the repeal of the internal market bill, which is unlikely to happen as it has been approved by the UK parliament.
At the same time, the EU has also taken legal action against the UK for failing to cooperate as requested before 30 September.
Recent developments have left the market losing hope and wondering if Brexit negotiations between the EU and the UK will continue with the ongoing controversy and conflict? Today German Chancellor Angela Merkel has come forward to comment on the issue.
According to him, there are signs that negotiations for the Brexit deal will continue even if it is difficult but there is still room for agreement to be reached. He said as long as negotiations on Brexit were ongoing, he was still optimistic. However, in the statement, Merkel has given an indication by stating that the Brexit negotiations will be more dependent on UK claims than agreements.
The pound sterling strengthened 0.30% against the US dollar at 1.2927 as of 10.30 p.m.
