It seemed that a deal over the Irish border was likely to emerge after the May-Juncker lunch meeting yesterday, the market was excited, but a deal did not emerge. There is still confidence on both sides that one can be agreed ahead of the EU December 14-15 Summit, with May and Juncker saying they will meet again before the end of this week. The Pound gyrated around these developments, rallying by a big figure from 1.3420 to 1.3520, but then giving it all up on “no deal” news. It’s though since steadied amid signs that the leaders will get together again to stitch together a deal that can be taken to the Summit.
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