Sterling rallies as EU's Barnier says Brexit deal with Britain 'realistic' in six to eight weeks

The European Union's Brexit negotiator Michel Barnier told a forum in Slovenia on Monday that it was "realistic" to expect a divorce deal with Britain in six to eight weeks, the British embassy to Slovenia said on Twitter.

"I think that if we are realistic we are able to reach an agreement on the first stage of the negotiation, which is the Brexit treaty, within six or eight weeks," Barnier said, according to an excerpt broadcast by Sky News.

"Taking into account the time necessary for the ratification process, the House of Commons on one side, the European Parliament and the Council on the other side... we must reach an agreement before the beginning of November. I think it is possible."

Sterling jumped to a five-week high of $1.3052 on the report, up around 1 percent on the day, and rose around 0.5 percent against the euro.

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