French official: Baseline scenario now seems to be no-deal Brexit

Unnamed French official briefs reporters:

• In light of Johnson position on Irish backstop, the baseline scenario now seems to be no deal
• EU position on Brexit won't change even in case of pressure from Trump
• EU would probably grant a Brexit delay to hold new elections
• Even in the case of a no-deal Brexit, EU will consider Brexit bill to be due
• France, Germany and other EU countries are united

That's going to grab some headlines but it's posturing. Cable dipped but has mostly come back.

Johnson will be meeting with Merkel later today, tomorrow he travels to Paris to meet Macron and on Saturday he will attend the G7.