LONDON — Brexit trade talks are resuming in London on Thursday after negotiations hit a deadlock last week.
The decision to return to the negotiating table boosted confidence among investors that a post-Brexit trade deal will eventually be reached. Sterling saw its biggest one-day appreciation on Wednesday since March following bullish comments by Michel Barnier, the EU’s chief negotiator.
However, both sides have a lot of legal detail to overcome in the next few weeks if they want to bridge their outstanding differences. Negotiators have been stuck for months over issues such as fisheries, competition rules and governance of their future accord.
“It is entirely possible that negotiations will not succeed,” the U.K. government said in a statement on Wednesday, warning that exporters should prepare for the lack of a new trade deal with the European Union despite the restart of talks.
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