Sky News political editor, Beth Rigby, tweets
"Was decided in June there would be informal talks before the 9th round (next week). EU source tells me that talks have been going a bit better than expected & there is a 'window of opportunity' (subject to the full application of WA)"
Well, that will provide some comfort for the pound - which is now rallying to its highest levels on the session as cable moves to 1.2867 after having hit a low of 1.2713 earlier.
That said, we've seen this rhetoric play out time and time again yet here we are. It is tough to imagine how this time around things will be completely different than before.
As for cable, buyers are certainly showing lots of poise in defending the key daily moving averages @ 1.2722-25 earlier today. The 200-hour moving average @ 1.2888 is a key focus level on the upside for sellers to defend the more bearish near-term bias now.
