EU chief Brexit negotiator Barnier: We are still far away in negotiations with the UK

No surprises as talks continue to go nowhere for now

• There was no progress on level playing field, fisheries
• The past few weeks, UK has not shown readiness to find solutions
• We are still far away from a deal with the UK

That basically sums up the situation. Both sides are still not budging as they would much rather maintain their red lines until crunch time later in the year. Even then, we may not necessarily see any form of compromise whatsoever.

The pound is just trudging along, keeping slightly lower on the day despite the remarks here. Cable is down to 1.2710 currently, looking to hold above its 200-day moving average @ 1.2703. That remains the key technical level to watch for now.