The French and German leaders have agreed to weaken the European Union’s demand for a so-called “level playing field” in the final Brexit trade talks offer to United Kingdom’s Prime Minister Boris Johnson, according to The Times.
France’s softened stance on the matter comes with a warning that President Macron stands ready to abandon talks to concentrate on preparing for a no-deal.
The level playing field determines how aligned the UK would be to the European Union’s regulations and has been one of the biggest obstacles to the Brexit trade deal.
Hence, the latest news may put a bid under the British pound. GBP/USD is currently trading largely unchanged on the day near 1.3428.
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