France’s Beaune: Brexit deal is possible by the end of November

France's Europe Minister Clément Beaune recently crossed wires, via Le Figaro, while flashing Brexit-negative headlines. Even if the diplomat thinks that the deal is possible by the end of November, his comments like, “London needs an agreement more than the European Union” suggest hardships for the ongoing talks in Brussels.

The bloc’s policymaker also criticized the UK’s questioning of the Withdrawal Agreement Bill (WAB) by passing the (Internal Market Bill), which in turn justifies the pushing back of the expected deadline from June to November.

Market implications

While the news should ideally weigh on the risk-tone sentiment and GBP/USD, global traders seem to wait for the UK’s open to react on the news. That said, S&P 500 Futures keeps it's half a percent gains whereas GBP/USD remains up 0.13% to 1.2937 as we write ahead of Thursday’s London open.