The pound is under pressure, and is showing about a 0.5% decline on the day so far against the dollar and yen, and about a 0.4% decline versus the euro. It’s the eve of the EU summit. Boris Johnson said that the “shape” of a deal must be visible by tomorrow, which is a deadline set in fudging language. Johnson and the European Commission head von de Leyen will be talking this afternoon via video conference, presumably to establish whether a “shape” of a deal is in view.

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