"There are concerns that Brexit will be of greater long-term harm to the UK economy than the pandemic, and the fact that the negotiations over the Northern Ireland Protocol are continuing shows that the UK’s path to independence will be both long and complicated.

The EU cannot understand that a country would prefer to go it alone rather than remain a member of a group that provides exclusive access to the massive trading potential that the EU provides.

On the other hand, the UK Government believes that the restrictions placed upon member countries mean that the country cannot fulfil its potential to work independently with its traditional trading partners.

The two are still embroiled in a disagreement over what is called the Irish Sea Border, which exists in order to allow the free flow of goods between Unionist Northern Ireland and the Republic in the south.

Fears are growing that the UK will initiate the terms of Article sixteen of the agreement, which is designed to be used if the agreement is causing societal, economic, or environmental difficulties. The fact that goods arriving from the rest of the UK have to be checked at the border is felt by the Northern Irish authorities to be becoming unworkable, While Brussels fears a backdoor into the free trade zone could be created.

"

Beyond Currency Market Commentary:

Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.