Comments by UK PM spokesman, James Slack

  • But there is still a lot of hard work to do
  • Reopening withdrawal agreement is simplest way to get assurances needed
  • EU's position is that they want UK to leave with a deal
  • Everyone is working to get the necessary assurances

They're continuing to talk up hope of a deal being struck eventually and that is helping to keep the pound underpinned today. It's all about hope right now for sterling buyers but I'd find it tough to imagine cable breaking out beyond the 1.30 to 1.31 range unless there is a major change to the Brexit state of play.