Statement coming at 12:45 GMT

Supposedly the BBC has an early copy or draft of the rumored statement on Brexit negotiations. The rumors are evidently true and she will speak at 1:45 pm London time (1245 GMT, 8:45 ET) from Downing Street.

Cable is at the lows of the day, now down more than 100 pips.

It looks like May is going on the offensive after a few slights in Salzburg. Tusk's Instagram pokes fun at the ideal that May wants to have her cake and eat it too, while cherry-picking a deal.

The spin in the UK press on the Salzburg trip today has been scathing. In real time it certainly didn't appear that way but at some point, perception becomes reality.

From the Independent:

"The Prime Minister was visibly shaking and upset at her press conference at the end of the Salzburg meeting following the full-throated rejection of her plan by the other EU leaders."