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The EU’s chief Brexit negotiator, Michel Barnier added to his earlier comments and said that one of the biggest difficulties in trade talks is fisheries.

Key quotes:

  • If the UK wants to stop EU fisherman from accessing waters, the EU must have the sovereign right to react.
  • It wouldn’t be fair or acceptable that fishermen have no transitory right in the UK waters.
  • We want a trade deal with the UK; we don’t ask for more than a balance between rights and obligations.
  • At this hour, I cannot say what outcome of Brexit trade talks will be.
  • We must be ready for all Brexit scenarios.

The incoming headlines suggest that there has not been much of a progress on the key sticking point of fisheries, which, in turn, kept the GBP bulls on the defensive. Meanwhile, the GBP/USD pair maintained its offered tone, albeit, so far, has managed to hold its neck above the key 1.3500 psychological mark.