Brexit negotiations are the staring theme this week with reports that the Irish border threatens to kill off all hopes of an October deal.
Brexit secretary, Dominic Raab, was forced to make a very quick visit to Brussels at last minute to seek more time from the EU’s chief negotiator, Michel Barnier.
We have the leaders’ summit this week at which the EU has demanded “maximum progress” be made on Brexit talks and Raab is understood to have told Barnier during a meeting that the volatility of politics at home meant that a plan to strike an agreement on Monday on the backstop solution for avoiding a hard border on the island of Ireland was not possible.
GBP/USD opened over half a penny lower vs the dollar and EUR/GBP has gapped 35 pips higher to 0.8825.
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