Finally, Progress on Finance: Beyond Brexit

What’s happening? The wheels are turning on financial services cooperation post-Brexit, but a U.K.-U.S. trade deal seems a long way off.

Taking their first step since Brexit to repair the rupture to banking and trade, the U.K. and the European Union agreed on a new forum on cross-border financial market regulation. Some Brussels officials said securing a common framework could help unlock equivalence talks. The news lifted the pound.