EU’s Barnier: Very happy to be back in London and work continues

Early Monday morning in Asia, the European Union's (EU) Brexit negotiator Michel Barnier crossed wired, via Reuters.

The bloc’s representative for the EU-UK divorce talks cited happiness while returning to the Brexit negotiation table in London. The diplomat also mentioned that work would continue securing a trade deal with Britain, per Reuters.

FX implications

While upbeat comments like this should ideally help boost the GBP/USD prices, the quote struggles to please the bulls following Friday’s run-up to the early-September high. The reason could be traced from the market uncertainty over the US election results even as Joe Biden won the presidency during the initial screening.

Further, the fact that Brussels and London are both only a week away from the key EU summit to discuss the post-Brexit trade deal also challenges the Sterling traders.