UK's Lidington: No-deal Brexit is not a desirable objective

UK Cabinet minister David Lidington is speaking to Radio 4

  • UK sees a deal with EU to minimise trade friction
  • No post-Brexit dilution of standards in the UK
  • If talks on Brexit deal slip beyond October, it is still manageable

Nothing new that we don't already know. It's been a rather quiet start to the session with most major currencies still ranging. The pound is the only notable mover so far trading near the highs for the day currently.

Expect more Brexit rhetoric to come in the next month as negotiations move closer to the October deadline before the EU Summit takes place. But the final comment by Lidington and reports like these ones here and here suggest that the can is very likely to be kicked down the road once again.

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