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Analysts at Danske Bank point out that the GBP gained further yesterday and EUR/GBP fell below 0.86 as Theresa May promised that the UK will not leave the EU without a deal unless parliament approves such an event.

Key Quotes

“The risk of a ‘no deal’ Brexit appears to have declined significantly after both Theresa May and opposition leader Jeremy Corbyn have made significant climb-downs, and the change in the Brexit outlook justifies a level shift lower in EUR/GBP, in our view.”