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Pound bounces back after Raab says confident of Brexit deal

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The pound has jumped up 0.9 per cent against the dollar to $1.3161 today after the Brexit Secretary Dominic Raab said he was confident that the UK will make progress and eventually clinch a Brexit deal with the European Union.

“We keep on negotiating in good faith, we try and get the best deal we can, but we are ready for all eventualities,” Raab told TalkRadio, adding: “We’ll keep negotiating in good faith, I’m confident we’ll get there.”

Raab’s comment comes just hours after Prime Minister Theresa May said that Brexit talks with the EU had hit an impasse after EU leaders savaged her proposals.

However, Raab said it was important not to overreact to the “stubborn” tone struck by Brussels and that some setbacks were to be expected.

“These blips in the world, they’re blown a little bit out of proportion, but we double down, we don’t throw our toys out the pram, hold our nerve, keep our cool,” Raab added.

“But at the same we need to be ready for the possibility … that the ambitions that we are bringing to these negotiations to try and get a win-win deal isn’t matched by the other side and it does take two to tango.”




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