eFXdata reports that MUFG Research discusses the latest Brexit trade deal developments. 

"According to reports, a new UK proposal floated with the EU over the weekend on how to create a competitive level playing field might just break the deadlock," MUFG notes.

"The positive steps on the level the playing field have revived hopes that a last minute trade deal can be reached. The latest developments have supported our assumption that a last minute trade deal would be reached, but the risks remain high that efforts to reach a deal could still fail posing significant downside risks for the pound," MUFG adds.