In the last week, EURINR spot rose by 0.12 percent as the onset of Brexit negotiations had led to cautiousness in the markets. The phase one of Brexit discussion was dedicated to expat rights, financial settlement and “other separation issues”.
With respect to the same, the EU’s chief negotiator Michel Barnier said he was “not in the frame of mind to make concessions or ask for concessions” which played negatively on the investor’s minds.
Moreover, Britain’s PM made an offer on the rights of EU citizens citing that those who arrived lawfully before Brexit will get the same rights to work, healthcare and benefits as UK citizens. Today, EURINR spot is likely to trade higher towards 72.25.