UK government’s Brexit position a little less opaque – ING

The UK government outlined its position on future customs arrangements with the EU last week and while a transitional period is sought, the lack of clarity on its length may be seen as a near-term disappointment, explains the analysis team at ING.

Key Quotes

“We expect GBP to trade with a negative bias ahead of the governing Conservative party conference and key Brexit talks in October. However, we see this as a short-run phenomenon at best; it's difficult to see any material GBP fallout in the absence of any flaring tail risks such as a breakdown in the UK-EU negotiations and renewed cliff-edge Brexit risks.”