Sterling spikes as ‘Germany and Britain drop key Brexit ask’


Sterling jumped around 1.2 per cent today following a Bloomberg report that the UK and Germany have abandoned key Brexit demands, potentially easing the path for Britain to strike a deal with the European Union.

Quoting people familiar with the matter, Bloomberg said Germany is prepared to “accept a less detailed agreement on the UK’s future economic and trade ties with the EU in a bid to get a Brexit deal done,” Bloomberg reported, citing unnamed sources.

The UK is also willing to accept a more vague statement of intent on the future relationship, it reported.