Report says UK officials are "misreading" statements by Brussels

Some officials in Brussels are "complaining" about "over-spin" by Westminster, saying that the European Union's stance vis-a-vis the Prime Minister's Chequers Plan had not changed one iota.

That followed remarks from the EU's chief Brexit negotiator, Michel Barnier, the day before, according to whom if both sides were reasonable then a deal on the UK's exit from the bloc could be agreed over the next six to eight weeks.

Predictably, Barnier's remarks triggered a sharp rally in the pound's value.

But according to sources in the EU capital cited by The Independent, UK officials were "misreading" positive statements from Brussels, with one senior EU source, who was reportedly directly involved in the Brexit talks, saying: "There is no change on substance".

Another source reportedly told The Independent: "I don't think the UK should expect it to become easier."

The report saw the pound flip into a loss against the euro and as of 1326 BST it was edging lower by 0.07% to 1.1228, versus an intraday high of 1.1252.