France's Macron: Things have advanced in EU summit, a compromise is likely

"Hopes are there for a compromise but I remain prudent regarding the EU summit outcome," French President Emmanuel Macron said on Monday.

"There have been tense moments but things have advanced in the EU summit and a compromise is likely," Macron added. "I am starting today with a lot of determination to make progress on the EU summit."

Meanwhile, German Chancellor Angela Merkel noted that an agreement was reachable despite difficult negotiations.

Market reaction

The EUR/USD pair edged higher on these comments and was last seen gaining 0.33% on the day at 1.1465.