Brexit Minister Raab: "A UK-EU deal is within our sights"

Ross J Burland FXStreet

There are some positive news flows coming through on Wednesday which are lifting spirits. Wall Street benchmarks are making fresh record highs and yen flows are negative.

The positive sentiment is centred around Trade.

Brexit noise, for one, has turned positive with comments from the European Union’s chief Brexit negotiator Michel Barnier who said the bloc was prepared to offer Britain an unprecedentedly close relationship after it quits the EU: “We are prepared to offer Britain a partnership such as there has never been with any other third country."

However, he said that it would not permit anything that weakened the body’s single market.

Nevertheless, this is positive and spurred Brexit Minister Raab to comment, saying "a UK-EU deal is 'within our sights'.

Also, the German Foreign Ministry has tried to play down the hype by Tweeting that there are "No special rules for post-Brexit UK", and, "cohesion is top priority / EU won't diminish single market".

The pound has been bid up from .2845 to a high of 1.3015. The latest comments from the German Foreign Ministry have weighed on the price though, forcing bulls to cash in - at the time of writing, GBP/USD is trading at 1.2992 bid.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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