Big move in the pound
At a briefing in Berlin, EU negotiator Michel Barnier dropped a massive piece of news, saying they are prepared to offer a partnership with Britain such as has never been with an other third country.
That's a vague comment but you can take three things from it:
The EU is ready to negotiate
The EU wants to continue doing business with Britain
There's a deal to be made
All of this is a huge relief for anyone in the UK, including Theresa May. Now this may be smoke-and-mirrors, the deal isn't going to be all roses but there's certainly room for optimism on this comment and Raab saying he's confident a deal is "within our sights".
Raab and Barnier had a very cordial press conference two weeks ago and things appear to be moving in the right direction.
So far cable's gains have been capped at 1.2952 after a very quick 100-pip move. Now it's back to 1.2946. This is a very early and vague comment but ships don't turn all at once and any turn in cable has major potential upside in the medium/long term:
