Chatter from the EU Summit
There are a number of comments coming out of the EU Summit. The comments are not all that surprising. The UK want to propose an extension to June 30. The EU is debating a longer extension with caveats. Here are some of the recent comments.
EUs Barnier says:
- Any Brexit extension has to serve a purpose
- Our common purpose is to get withdrawal agreement ratified
Earlier France's Macron said:
- We need to understand why UK should get more time
- Nothing is certain on Brexit extension
Marcron also added:
- British people decided to leave EU, not for us to oppose it
- It is time to take decision now
- Brexit must not block European project
- EU unity still at risk, nothing must compromise it
- EU project must continue despite Brexit
Meanwhile Italy's Conte says he favors a longer Brexit extension and adds "it should not be 2-3 months"
As Adam pointed out, the EURUSD has moved back higher and erased most of the earlier declines since the CPI and the start of the Draghi testimony. In the process, the price has moved back above the 1.12543 swing level from last week and this week. Shorts covered on the move back higher.
