RTS1LR73 - Toby Melville - uk eu brexit

Businesses and investors just got an extra 21 months to prepare for Brexit

21 months

The UK and the EU agreed to the outline of a transition deal on Monday that essentially keeps the UK inside the EU for an additional 21 months.

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RTS1LR73 - Toby Melville - uk eu brexit
21 months

The country is still leaving the bloc in March 2019, but it will stay in the single market until December 2020. The UK will have more time to pen a trade deal with the EU—and firms will have more time to adapt to whatever comes next.

RTS1LR73 - Toby Melville - uk eu brexit
21 months

Markets cheered the news, with the pound gaining 1% against the dollar, a significant change in that market, and 0.8% against the euro.

RTS1LR73 - Toby Melville - uk eu brexit
21 months

Viraj Patel, a currencies strategist at ING, told the Financial Times that the deal is a “genuine positive surprise” given “the negative noise and speculation” in recent weeks.

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