UK’s Raab: Boris Johnson will set out further details on Brexit today

Further comments by Raab

  • We’ve always said that there’s a deal to be done
  • But there has to be flexibility on both sides for that to happen

He has pretty much given it away at this point, but I reckon the pound will get more of a jolt once Boris Johnson confirms that talks will continue beyond this week.

That said, I would still argue that resistance closer to 1.3000 and 1.3050-83 especially will be tough for cable to crack, all things being equal at the moment.

The willingness for the UK to keep talks going does provide some glimmer of hope but it surely doesn’t bring both sides any closer to an agreement as things stand.

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As such, there is the potential for pound gains on the headline later to be rather short-lived.

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