British Pound Steady as Traders Believes the E.U. can still Concede Ground on Brexit Deal, Failure Could Force Pound-Euro Parity

Pound exchange rates will be looking to steady into the weekend as markets are not yet giving up on their belief May can pull this off.

Scenarios facing the British Pound over coming days and weeks as markets react to increasingly likelihood of a 'no deal' Brexit.

The British Pound has plummeted on the news the U.K.'s Brexit Secretary Dominic Raab has quit government in protest over the Brexit deal struck by the E.U. and U.K.

We are hearing a host of strategists and analysts suggest the outlook remains decidedly fragile for Sterling over coming hours and days as the hurdles to any Brexit deal passing through the U.K. parliament emerge.

The British Pound retreated further from earlier highs Wednesday after official data showed inflation surprising on the downside in October and as a parliament-shaped question mark hung over Prime Minister Theresa May's Brexit agreement.

"We already think GBP may be overreacting to the upside and faces considerable challenges as the process of ratification continues" - Adam Cole, RBC Capital Markets.

It is reported E.U. and U.K. have agreed a text on how to avoid a hard border on the island of Ireland suggesting the final and most contentious stumbling block to a Brexit deal has been reached.

The British Pound is on the front foot amidst reports a Brexit deal can be secured within the next two days.