EU’s Moscovici: Do not think that "no-deal" Brexit is the favored option
The European Union (EU) Commissioner Pierre Moscovici is out on the wires now, via Reuters, noting that he does not think that "no-deal" Brexit is the favored option.
Further Comments:
We also need to prepare ourselves for a "no-deal" being option on the table.
Britain would still have to pay its contribution to EU budget.
Nothing seems to move the EUR/USD pair, as it continues to move up and down around the 1.11 handle, despite a contraction in the German Q2 GDP. Meanwhile, the Cable also trades flat in a tight range above the 1.22 handle, unfazed by the above comments.
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