Announcement on done deal was made 10 mins before 8.00am European, so no surprises - I see that GBP/USD is now back to where it kicked off, classic buy the rumour, sell the fact.
Nothing much has happened since last posted - transitional period likely will end Dec 31st 2020, still difficult to make concrete plans. Civil servants still working hard - there is much to be done.
One thing of interest, not much publicized is that the process of appointing the new ECB board has begun.
There are huge implications for Euro, the North South dynamic is already being discussed, so if VC goes to Spain then all eyes on Germany for the chair.
Also talk of more economists and less politicians, Ireland’s choice is a banker (for VC role), Spain’s FM is favourite so far.
That’s the thinking, but all to be played for - many guys have the opinion that the Spanish FM is too close to Weidmann thinking … the risks for Euro are to the upside.
Another month has passed, a setting out of UK position today, reasonably business friendly speech by the UK PM, although soft in detail, but much as expected and in line with the briefing notes.
The market reacted pretty much as expected, Euro up and Gbp down - I doubt that many would have bought GBP since Monday past.
There is much talk about red lines so I tend to paint those at specific time periods,(for purposes of this thread Eur/Gbp)
The red line is the UK opening low next day, i.e the first of the month (up arrow)
The second red line further up? - it’s been there for a while.
That was back 5 or 6 months ago, many companies do not like negative publicity, nonetheless Katherine Bennett, senior vice-president for Airbus UK, just gave a BBC interview "we operate a “just in time” supply chain, which means that even a three-hour delay at Dover, for example, would be “a critical issue”.
(source bbc)
An important issue for business in all 28 countries, Airbus are talking to the UK govt. so politicians are aware.
That was back in early March, Airbus were not listened to, they went public lthis week, so too BMW - this is unusual as most majors do not court negative publicity, they just plan ahead quietly.
The reason is next weeks summit, specifically June 29.
There is a sense amongst the 27 that the UK is sidelining the Irish border question, perhaps in a hope that the 27 will see that problem as an ‘irritant’ (as quoted by an insider).
Thing is that the N Ireland border is an irritant - but it has the capacity to become the rock that the transition offer will perish - hence Airbus and BMW.
UK officials as indeed Pres Trump are aware of current German political difficulties surrounding immigration, perhaps an opportunity for the UK to take advantage of in the present negotiations.
The opposite seems to be the case, a hardening of attitude, maybe thinking ahead with the impending trade war with the US also in mind:
“Germans are very, very clear about this,” says an EU diplomat. “For them this is much bigger. The threat to the unity of the 27 by abandoning Ireland is much bigger than any sense that their exporters are going to lose out.”
Source: Tony Connelly, RTE
Anyways - more to follow 
Exactly so @peterma, So it is seen as simple political posturing - back door pressure trying to overturn the democratically expressed will of THE BRITISH PEOPLE !
"Airbus accused of trying to reignite ‘Project Fear’ "
Generally most business have a focus - the P&L
It has 2 columns, last years and this years numbers - shareholders and investors want guidance on what the third blank column will hold, directors and CEO’s job is to maximize those numbers yet to be delivered.
It’s not their job to deliver any political projects fear or otherwise, a good CEO stays out of that arena and only enters when it’s necessary to do his job.
Siemens and John Lewis gave interviews on Friday which the FT headlined as: “Brexit: John Lewis and Siemens warn government:”
This headline was incorrect insofar of they were not warning anybody, merely thinking of the right column of their P&L’s
Personally, I hope no one else will decide to leave. We’re all stronger together than apart.
They’re just watching to see how the UK does. A lot of Countries are unhappy and regretful, but most are shackled by the “Common Currency”. They will find it quite difficult to leave.
It’s a shame we in the uk have a “Remainer” “Negotiating our leaving” 
- but hey the “Powers that be” were very anti the Brexiteers, using every dirty trick they could including “Project Fear” to frighten us into voting for their pet project.
But they underestimated teh British People - same as Hitler did ! - If we can defy THAT, we can certainly do this !
Key UK meeting still in progress - leaks? - not likely, they took all communication devices at the door, even have jammers.
If I was holding GBP I’d be a little nervous - resignations later tonight would be both negative and positive the pound.
The one thing that would be absolutely negative is another fudge, that is less likely because of the time factor.
The timing of the meeting and it’s probable closure of around 10.00pm UK time is not accidental, the market is ‘closed’ and it awaits - so too does business.
The UK FM used an expletive when asked about business, he’s in a good place, there are others who rely on business, especially the younger generation, tomorrow’s news could well have an impact on them.
Update - no resignations - collective agreement are the words - more to follow.
Communication back on
The sun’s been out again here today and will be again tomorrow. Temperatures are breaking records, but we all know because we’ve been assured by propagandists claiming that “Scientists” say the sun has nothing to do with it - It’s all down to “hot air” being kept in by Carbon dioxide 
(honest mister ! 
)
Well there is more than enough hot air being generated by those unhappy that their opinions have been outvoted by the British People, to cook this damn planet ! 
Yep, FS duly recognized.
The “F” word reigns - that is after 9 hours it’s a fudge.
Market US news are reporting positive GBP but EU news are reporting a ‘watering down’ of the original UK PM position, i.e. the position as was ‘leaked’ yesterday and conveyed to Ms Merkel.
Same old, same old…it becomes almost boring, if only so many people didn’t depend on the final outcome.
That’s what you get when you get a “Remainer” without any balls “negotiating” “Brexit” - Article 50 states that it is up to EU to come up with Exit conditions and then to put them to the exiting party for approval !
Not this reversed drivel.
That’s an "Interesting " way of putting the “facts”
https://www.bbc.co.uk/news/uk-politics-44719576
Two women, each with a very tenuous grip on “power” meeting to decide what the British Cabinet were to be “fed” (pun intended ) !
Note also the bbc typical Propaganda intended to manipulate the minds of teh readers at paragraph 5 - All irrelevant to the article and pure persuance of the objectives of “project fear”
Totally disgraceful that our own supposed PM went to ask Merkel for instructions before Telling the Cabinet how they must vote !
Somebody somewhere is pulling that May womans strings !
The Treasury is being blamed for that, but I’m not so sure.
There is a guy on the cabinet who is on the Brexit side of the debate (what media now like to call brexiter), his approach has changed in recent times.
This guy knows his business, I’d give him 10 out of 10 - clue.
Click on him for bio.
Well that scenario was good for 2 days, so much for the “collective”, never had much time for that word anyhow.
Still applies, be careful, TA will not be much help although a red line was hit today and held Eur/Gbp - 89.00
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To whom do you refer ? I can’t mindread (reliably yet ! )
That was then, now he is 9th on the list (was 10th) - ‘knows his business’ i.e. Secretary for Business.
Known as a hard worker.
I’m not saying that he pulling anybody’s strings, but just maybe his input is business positive - doing his job.
https://www.gov.uk/government/people/greg-clark
Pres Trump will visit the EU, UK and Russia.
He tweeted re the ‘turmoil’ in the UK, he is wrong - there is merely a little political jostling going on, the thinking is on the future - all will settle down shortly.
Some hard work up ahead but now a team leader that may well be prepared to put in necessary graft.
One who has devoted many hours that goes unnoticed by the press is Mr Ollie Robbins, the PM’s spad on EU.
The focus now switches to Brussels, they await the detail of the white paper (I think about 20 pages) - they have received a summary (about 3 pages) the release of which has sparked the recent resignations.
The initial comments from the 27 have been encouraging, there seems to be a possibility of proper detailed negotiations based on this eagerly awaited paper.
More to follow…I sense a light at the end of a long tunnel, let’s hope so.
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