The British pound jumped above 1.3000 after Barnier said that reaching a deal is realistic within 6-8 weeks.
Here is their view, courtesy of eFXdata:
MUFG Research discusses GBP outlook and notes that the pound has been one the best performing G10 currencies so far this month driven by a modest pullback in Brexit risk.
“There has been another encouraging report in today’s FT entitled “EU ready to give Barnier mandate to close Brexit dealâ€â€¦
The developments support our view that a “No Deal†outcome remains unlikely. We see scope for the pound to strengthen further as the current Brexit risk premium is pared back,†MUFG argues.
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