Brexit Talks In Crunch Time As Pound Wobbles And Euro Soars

On the Brexit front Barnier and Frost are due to meet today to discuss the progress up to date. Yesterday, Barnier provided a briefing to EU ministers stating that the union was willing to walk away from the negotiations if the parties could not agree to favorable terms. This was seen as a diplomatic nod to France which has been adamant about not giving up too much ground on the fisheries issue, but it remains unknown just how far apart the two parties are on the key terms of the deal.

In any case, the news helped to push cable lower for the time being, knocking it down to 1.3350 but it remains bid on dips as markets continue to believe that some sort of deal will be done by year end.

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