The pound jumping to a week high against the US dollar

A Brexit trade deal is "within reach," Barnier said

Speech implies superiority of the United Kingdom

Ministers are currently studying the text of Michel Barnier's speech. The speech was aimed at meeting a British demand that Brussels make it clear that it, like the United Kingdom, will commit itself to reaching an agreement before resuming negotiations.    

UK ministers welcomed Barnier's recognition of UK sovereignty, with the pound jumping to a week high against the US dollar. 

Barnier also repeated his promise that the EU would negotiate "day and night" on all matters, and on the basis of common legal texts, which were the UK's other conditions before returning to the negotiating table.

The EU has the final deadline of October for the agreement to be closed. This will allow time for the agreement to be ratified within 10 weeks before the end of the year and the Brexit transition period and thus avoid any agreement.