French President Emmanuel Macron criticised the British government on Thursday, saying post-Brexit relationships with the UK are difficult because the government does not do what it says. I hope Britain will re-commit to proper relations, he said. 

His comments come against the backdrop of ongoing negotiations with France and the EU over access for the former’s fishing fleet to UK waters and over the implementation of the Northern Ireland Protocol (NIP). France has threatened retaliatory trade and legal measures against the UK if more fishermen aren’t granted licenses, while the EU has threatened to retaliate against the UK if it triggers Article 16 of the NIP.

The UK maintains that if an agreement cannot be found with the EU on the implementation of the NIP, triggering Article 16, which would allow it to unilaterally make changes to trade arrangements with Northern Ireland, remain on the table. 

Market Reaction

Sterling is unmoved following the latest comments from Macron. GBP/USD continues to trade close to recent lows around 1.3200. 

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