Fisheries Optimism Not Enough to Prop Up Pound

Hopes of progress for one of the last few sticking points for a Brexit deal were raised Friday, but GBP failed to sustain the rally into the close. The currency held its place as the poorest performer in G10.

Reports citing a French fishing industry source suggested the French government were preparing domestic industry groups for more restricted access to British fishing waters - signs that the EU could be open to making concessions to secure a deal.

The EUR outperformed, with the move starting in earnest after better-than-expected PMI data - manufacturing continues to outstrip services, which helped tip the Eurozone composite just above expectations. JPY rose alongside the greenback as US equities turned lower. Sticking points clearly remain between the White House Admin and House Speaker Pelosi, leading markets to knock back the chances of a stimulus package pre-election.

Focus in the coming week turns to the ECB, BoJ & BoC rate decisions, Australian inflation and French, German & Canadian GDP. Earnings season in the US continues with the busiest week of the quarter. 46% of the S&P500 by market cap are due to report.