The UK reaches historic Brexit divorce deal – FT

The UK managed to strike a historic deal with the EU on the Brexit settlement bill early Friday, opening doors for the trade talks and a smooth Brexit transition.

Key Points via FT.

“Britain reached a historic deal on its EU exit terms on Friday, enshrining special rights for 4m citizens and paying €40bn-€60bn in a hard-fought Brexit divorce settlement that clears the way for trade talks next year.

Theresa May and Jean-Claude Juncker, the European Commission president, met early on Friday to sign off a 15-page “progress report” that will allow EU negotiators to recommend opening a second phase of talks on post-Brexit relations.

Shortly after the breakfast started, Mr. Juncker’s chief of staff Martin Selmayr tweeted pictures of white smoke rising from a chimney stack, indicating the deal was done.”

Meanwhile, the GBP/USD pair slipped further away from 1.35 handle on the above headlines, now trading around 1.3475 levels.