EU head Brexit negotiator continuing with press conf 19 March
- ntg is agreed until everything is agreed
- the backstop will apply unless and until another solution
- we are ready to look at all options
UK Brexit head Davis now up to the mic:
- existing EU rules will apply during transition
- new deals to be active after transition
- UK's voice will be heard in EU during transition
- if UK can not agree with an EU decision it has the right to apply it
GBP still liking the tone of it all on first sight.. GBPUSD up to 1.4074 biggest one day gains since 24 Jan. Next line of res/offers between 1.4080-00. No rush to jump in just yet for buyers or sellers.
GBPJPY up to 149.68 with USDJPY holding around 106.20. EURGBP still holding around 0.8750 after its session fall from 0.8803 to 0.8746. EURUSD finding some Brexit deal relief too.
Little doubt that UK has given up a lot as highlighted/proposed by PM May's conciliatory/climbdown speech at Mansion House speech
Davis and Barnier - New best friends, with a few provisos
