EU's Juncker: Could be a deal by Oct 31 - GBP/USD pops around 50 pips
- GBP/USD has risen around 50 pips on the latest Brexit headlines.
- Jean Claude Juncker's Sky News interview suggests there could be a deal by the 31st October.
The European Commission president, Jean Claude Juncker, yesterday insisted he would "stand by the objectives" of the Irish backstop - but said today that if they are met through alternative arrangements, "we don't need the backstop".
Following a Sky News interview, the media outlet reported that Juncker said a no-deal Brexit would be "catastrophic" and he was doing "everything to get a deal" and he said he was prepared to get rid of the so-called backstop from a withdrawal agreement, so long as "the objectives are met - all of them". Mr Junker also confirmed that he has been sent documents by Prime Minister Boris Johnson outlining draft ideas for a new Brexit deal.
- Could be a deal reached by Oct 31.