French official: Baseline scenario now seems to be no-deal

Eren Sengezer FXStreet

Citing an official in French President Macron's office, Reuters reported that France believed that a no-deal Brexit was now the most likely outcome and pressure from US President Trump wouldn't be able to change that.

"The EU would probably accept to grant Britain a delay on Brexit to hold new elections," the official added. "Britain should have no doubt France, Germany and other EU countries are totally united."

The British pound came under pressure on these comments and the GBP/USD pair started to erase the last hour's recovery gains. As of writing, the pair was down 0.4% on the day at 1.2120.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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