The Britsh pound was a cent from yesterday's lows on a press report that claimed the UK cabinet had agreed on seeking to stay in the customs union with the EU beyond the two-year transition period. The report suggested that the UK wanted to still negotiate other trade deals, which would seem to be a Trojan Horse. The UK's other trade partners would have access to common market through the back door, if you will, without a treaty with the EU. EU officials seemed wary, but the report was denied. Sterling returned to levels when the news first broke in early Asia, a little below $1.35, before recovering toward $1.3540. ... (full story)