EU draft of post-Brexit deal: Parties recognise level playing field provisions are necessary

In its draft of the post-Brexit deal with Britain, the European Union says that parties recognise that level playing field provisions are necessary, per Reuters.

Key takeaways

"In case of risk of unfair trade distortion, the EU can slap interim protective measures in 15 days at the earliest after notifying the UK."

"Neither the EU nor the UK should reduce environmental protections, the UK will implement a carbon pricing system as least as good as the EU one."

"Trade deal with Britain envisages reciprocal access to fishing waters, annual talks to end by December 10 on fishing opportunities for the following year."

GBP/USD reaction

The GBP/USD pair largely ignored these remarks and was last seen trading at 1.2585, adding 0.1% on the day.