Juncker and Barnier are addressing the European Parliament currently
- Brexit deal is still possible
- Main sticking point in Brexit is Irish border, backstop
- Until UK proposal is made, cannot say any progress in Brexit has been made
- Says talks with Johnson was 'friendly, constructive'
- Not sure if we will get a deal, there is little time remaining
A bit of a reaction to the headline comment there with cable slipping to fresh lows on the day of 1.2467 from 1.2485 earlier. There's also some mild dollar strength at play but the move lower in the pound appears to be a knee-jerk reaction to the headlines above.
The fact that Juncker is highlighting that there aren't any proposals made by Johnson's team yet is definitely not an encouraging sign to say the least.
