EU’s Barnier: We remain determined to strike a Brexit deal

Dhwani Mehta FXStreet

Responding to a question about the odds of a much-awaited Brexit breakthrough, the European Union (EU) Chief Brexit Negotiator said, “We remain determined to strike a Brexit deal.”

His comments come as he lands in London ahead of the informal trade talks.

Both the UK and the EU remain adamant on their demands over the access to fishing waters but Barnier has previously confessed that Brussels could grant concessions late on in negotiations.

Market reaction

GBP/USD jumped nearly 45-pips to session highs of 1.2744 in a knee-jerk reaction to Barnier’s optimistic comments before reversing to 1.2725 region, where it now wavers.

The spot hit a two-month low of 1.2676 but the bulls were rescued by the renewed Brexit optimism and broad dollar retreat.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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