Sterling jumped against the dollar today to $1.2992 after Michel Barnier indicated that progress has been made in the Brexit negotiations.
Barnier, the EU’s chief Brexit negotiator, said Europe is prepared to offer an unprecedented partnership to the UK.
He told reporters in Berlin: ‘We are prepared to offer Britain a partnership such as there never has been with any other third country. We respect Britain’s red lines scrupulously. In return, they must respect what we are. Single market means single market … There is no single market a la carte.’
The development comes just hours after media reported how Brexit secretary Dominic Raab was miffed with Barnier over his alleged failure to make himself available for talks.