French government told fishing industry it would get smaller catch from UK waters - report

Sterling pops on the headlines from Reuters

Quick move above 1.31 in cable.

France's government told the fishing industry to 'brace for impact'. Macron is laying the ground for a compromise on fisheries in Brexit talks, the article says.

Fisheries are said to be the remaining major hangup in talks but Macron is softening. France has 20,000 fishermen and 10,000 processing jobs but about one quarter of the fish are caught in UK waters.

"They asked us if potentially, really potentially we were ready to make concessions," fisheries source told Reuters. "They asked us to think about it."