EU parliament is to call for Britain to have 'privileged' single market access post-Brexit

A report is out by Business Insider on the matter

The report says that the EU parliament is putting together a detailed resolution, which will call for more flexibility in future relationship talks with Britain.

And that it wants to negotiate an "association agreement" which could give Britain "privileged" single market access and membership to EU agencies.

If their sources are correct, this is a change in stance compared to what EU chief Brexit negotiator Michel Barnier has been preaching all this while - who insisted that Britain will only have access similar to that of a Canada-style free trade agreement.

However, it's still unclear how this would pan out and the viability of the situation - given that UK PM May's Conservative party's position in wanting to be free of all European law post-Brexit.

Either way, sterling heads higher with cable near session highs sitting at 1.3993 currently. EUR/GBP also hit session lows of 0.8823.