Comments by EU chief Brexit negotiator, Michel Barnier
- We want a Brexit deal, but not at any cost
- We remain firm, determined, will seek necessary compromises until the last day
- Ready to discuss all subjects on basis of legal text
- An agreement is within reach
- Time is of the essence and is running out, progress needed in the coming days
We have heard all of these remarks before in the past and yet, here we are. That said, the pound seems to be liking the narrative that both sides appear to be continuing talks at least as there is more clarity about the current situation.
Cable now up to 1.3040, touching a one-week high. Near-term resistance now seen closer towards 1.3064-83 after the break above 1.3000 and the trendline resistance.
