Ireland’s Coveney: Negotiations are not in a good place when it comes to fisheries

Commenting on the Brexit negotiations, the Irish Foreign Minister Simon Coveney said on Monday, “negotiations are not in a good place when it comes to fisheries.”

Additional takeaways

“We're in the same place on fisheries as we were in mid-summer.”

“Only a few minor concessions were discussed.”

“We really are in the last 7 to 10 days of Brexit negotiations.”

“Things need to move on Brexit deal this week.”

Market reaction

GBP/USD is fading a spike to four-day highs of 1.3242 on the above comments, now trading in a familiar range around 1.3215, adding 0.24% on the day. The risk-on mood amid vaccine optimism underpins the pound at the expense of the haven US dollar.

• UK's Hancock: Our red lines for Brexit have not changed
• Brexit negotiations could go out beyond this week