EURGBP in a narrow range of movement

This Monday, the EURGBP pair is very calm. We are still moving in the range of 0.85500-0.86000 with a view to the bottom line of support, which can easily be terminated after July 19 when Britain opens completely, without any restrictions. The successful vaccination has greatly contributed to Britain’s economic opening.

The British authorities announced today that they do not recognize the assessment of the European Union regarding the total costs of the Brexit settlement and that they believe that the amount of the total expenses is still within the original estimates of the government in London.

The United Kingdom and the EU have reached an agreement on a break-up agreement within which Britain will continue to pay funds into the Union’s budget in accordance with the commitments made during Britain’s EU membership, reminds Reuters.

EU officials said yesterday that Britain must pay 47.5 billion euros (40.77 billion pounds) to the European bloc due to the financial settlement after Brexit. “We do not recognize that figure. It is an estimate made by the EU for its own internal accounting purposes,” a spokesman for British Prime Minister Boris Johnson told reporters. He adds that all the money owed to Great Britain is not included in that figure, which, according to him, reduces the amount that London has to pay.

An EU spokesman said the United Kingdom would have to pay EUR 47.5 billion into the EU budget over the coming years and that the provisions of the Divergence Agreement had done all calculations. “The report is final,” an EU spokesman said. Britain said its cost estimate was still in the mid-range previously set by the domestic government, at GBP 35 billion to GBP 39 billion.

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