JP Morgan now sees a 50% chance of a Brexit deal to be struck

Amid increased expectations that a Brexit deal will be reached, the US investment bank JP Morgan’s one of the key Brexit watchers also expected a Brexit deal now.

Key Quotes:

This changes everything - we now expect a deal.

If our understanding of the situation is correct, a “solution” to the Irish border problem which could ultimately be acceptable to all parties (if rather inelegant) has been identified.

Sees a 50% chance of a withdrawal agreement being struck with a “modified/time-limited” Irish backstop. It had previously put the likelihood at just 5%.

• GBP/USD through the roof, beyond 1.2500 on Brexit deal optimism