Negotiations on UK’s membership within the EU continue – Investec

By FXStreet Research Team at Investec, suggests that the market focus will likely be on the European Council meeting in Brussels which continues later this morning.

Key Quotes

“David Cameron has begun a series of meetings with other European Union (EU) leaders in the early hours with hopes to secure a deal on the negotiation of Britain’s membership within the EU. Council President Tusk told reporters early this morning that “we have made some progress but a lot needs to be done”.

German Chancellor Angela Merkel was reported by the Reuters news agency as saying it had become “clear that agreement will not be easy for many, but that the will is there”. An EU source said talks had been “intense and constructive” and spoke of five key areas where agreement had not been reached, including the details of triggering an “emergency brake” on migrant welfare and restrictions on in-work benefits for migrants. Whatever the outcome will be, Sterling is likely to have a volatile session.”
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Source:: FX Street