UK fin min Hammond referring to comments earlier by Brexit minister 1 Dec
- need to be flexible in Brexit negotiations, get a deal that maximises access
- need to look at deal in total with concessions on both sides
- perfectly likely that we will want continue having joint funding for research projects
- separate deal for Scotland not an option
Brexit ministerDavid Davis said that he hasn't ruled out continuing to make EU contributions payment if it helps the overall deal.
I highlighted the comments here and referred to them in my wrap.
Some commentators and FXL readers have assigned today's GBP rally to these comments but I'm not of the same view given these conciliatory " haven't got a clue what we really want" remarks are nothing new. They will have helped but the suggestion it means a softer Brexit is pure conjecture at this stage from either side of the negotiating table
Either way the market is liking the comments in its typically knee-jerk robot-controlled environment nowadays and sending GBPUSD to 1.2685 with EURGBP falling even further to 0.8382