Sterling rises notably after comments from European Commission President Jean-Claude Juncker. He told Sky News that he didn’t have “an erotic relation” to the so-called Irish backstop. As long as alternative arrangements are in place to achieve all main objectives of the backstop, he’s prepared to remove it from the Brexit withdrawal agreement.

He also said that no-deal Brexit would have “catastrophic consequences” and he was doing “everything to get a deal Juncker believed that a Brexit deal can be reached by October 31.

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