EU’s Moscovici: Do not think that "no-deal" Brexit is the favored option

Dhwani Mehta FXStreet

The European Union (EU) Commissioner Pierre Moscovici is out on the wires now, via Reuters, noting that he does not think that "no-deal" Brexit is the favored option.

Further Comments:

We also need to prepare ourselves for a "no-deal" being option on the table.

Britain would still have to pay its contribution to EU budget.

Nothing seems to move the EUR/USD pair, as it continues to move up and down around the 1.11 handle, despite a contraction in the German Q2 GDP. Meanwhile, the Cable also trades flat in a tight range above the 1.22 handle, unfazed by the above comments.

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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