BoJo Confident to Get A Trade Deal by the End of This Year - Forex News by FX Leaders
BoJo thinks he can get a trade deal with the EU before the end of 2020

BoJo Confident to Get A Trade Deal by the End of This Year

Posted Tuesday, January 14, 2020 by
Skerdian Meta • 1 min read

UK Prime minister Boris Johnson got a Brexit deal from the EU in October last year, which was turned down by the previous UK Parliament. But, he won a strong majority in December elections which means that his Brexit deal is going through.

But, that means nothing if the UK doesn’t reach a trade deal wit the EU by the end of the year; if they don’t then there will be a hard Brexit, which is what most market participants feared from the beginning. Although, BoJo is sounding confident about a trade deal now. He made some comments earlier:

  • We are very likely to get a comprehensive EU trade deal by year-end
  • We always have to budget for a complete failure of common sense
  • We are going to lead the cause of global free trade

Johnson also made a couple of comments on Scotland, since Sturgeon is trying to get the support for another independence referendum on Scotland, several years after the previous one failed.

  • Boris Johnson writes to Nicola Sturgeon to rule out a second Scottish independence referendum
  • UK prime minister, Boris Johnson, says another referendum would continue political stagnation in Scotland

GBP/USD jumped higher on his comments about a trade deal with the EU by the end of the year. Although, that’s more wishful thinking. It will be hard to reach a deal in a year, considering that it took Canada 7 years to get a deal done. But, there are hopes because the EU can use the Canadian deal or the Norwegian one as a template, which would cut a lot of time and save energy.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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