EU’s Barnier: Ready to discuss all subjects on basis of legal text, GBP/USD jumps above 1.3050

“European Union’s (EU) attitude has shifted and will not shift not until last day,” Chief Brexit Negotiator Michel Barnier said on Wednesday.

However, the Union is “ready to discuss all subjects on basis of legal text,” he added.

Additional quotes

We are going to need trust based on current deal

EU wants a deal

No deal at any cost

We will remain firm, determined

Will seek necessary compromises until last day possible

Framework set out by EU won't change for ambitious deal with the UK

What's in play in talks is proper organization of our future relation after divorce

We want to have good relations

Any international agreement implies binding constraints accepted by both parties

Agreement within reach.

Time is of the essence and is running out.

We can see there may be a way forward particularly on trade of goods and services, energy.

Progress must be made on level playing field, fisheries and governance.

Deal we seek will be unprecedented.

It's about ensuring we fully understand and can deal with differences that exist.

Level playing remains fundamental concern.

We want a deal with chance of real implementation.

No trade deal without fair solution for fisheries.

Needs to be mutual access to waters and fair distribution of quotas.

Our door remains open.

It takes two to reach a deal.

Need to be ready to deal with consequences of no deal scenario.

EU unity is key to success of talks.

A deal with the UK is the best possible way forward.

Market reaction

The upbeat momentum in GBP/USD gained traction on the EU’s affirmations of its commitment to reach an agreement on the Brexit deal.

At the press time, the cable tests five-week highs of 1.3064, up almost 1% on the day.