No breakthrough in talks
There was a brief pop in sterling on Friday on news that Boris Johnson and EU president Ursula von der Leyen would speak in a phone call today. The hope was for a breakthrough but it hasn't come.
In separate statements, each leader said 'significant differences remain' and cited fishing and level playing field provisions. Von der Leyen said some progress has been made and, importantly, said talks will continue next week to reach a deal.
I don't think this will be a big setback for GBP on Monday. The market is growing increasingly optimistic that the bluster will fade and that snags over fishing rights aren't going to derail talks.
