Sterling seems to be responding well enough to the post meeting press conference of UK Brexit Secretary Dominic Raab and EU chief Brexit negotiator Michel Barnier. The pound is holding on to gains against both Dollar and Yen.

Raab said they had “positive” discussions and UK reaffirmed the commitment regarding Irish border. Raab said there are still “some significant issues to overcome”. Both agreed the need to “step up the intensity” during the final phase of the negotiations. Raab also emphasized that “if we have that ambition, that pragmatism and that energy on both sides, I’m confident we can reach that agreement by October.”  Regarding no-deal Brexit, Raab said “some of these hair-raising scare stories are far from true””

Barnier said the negotiation has now entered the final stage. And both the EU and UK agreed to continually negotiation from now on. He added that the EU and UK can find common grounds, and both are now more advanced in defining the common ground, for foreign policy, security and economic relationship.

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Both sides will meet again in Brussels next week.

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