++ Any Deal will fail in Parliament. But this time it will expose Labour's woeful Brexit position, kibosh the Extension Bill, lead to No Deal and set up the UK/EU FTA ++

At the time of writing we have little more than insinuation and innuendo over a potential Brexit Deal. There is alleged movement on Northern Ireland's approach to customs such that it could look like the original NI-only backstop.

This is just the kind of last-minute political fudge that the consensus had been expecting, hence the euphoric response in GBP.

We think . . .

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