London/Brussels — The UK and the European Union struck a deal to unlock divorce negotiations, opening the way for talks on what businesses are keenest to nail down — the nature of the post-Brexit future. The pound initially rose on the news, but its gains all but evaporated in a fleeting few seconds. On display was the classic market adage of “buy the rumour, sell the fact”. But also obvious was a recognition among traders that the negotiations have reached a crucial second phase: if just the first phase of unlocking the divorce bill was this challenging, the path ahead could be even more frustrating and time-consuming. "Both sides had to listen to each other, adjust their position and show a willingness to compromise," European Commission president Jean-Claude Juncker said in Brussels after a statement was released announcing the agreement. "This was a difficult negotiation for the EU as well as for the UK." Prime Minister Theresa May travelled to Brussels on Friday morning with an...
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