Irish Prime Minister Michael Martin, said on Friday that it detects a genuine desire on all sides to resolve issues related to the Northern Ireland Protocol (PIN). His comments follow statements by influential UK Minister Michael Gove, who said he was confident that we will be able to advance the discussions related to the PIN without activating Article 16.
However, early in the session, UK Brexit Minister Lord David Frost said that significant gaps remain between the UK and the EU and that Article 16 activation was still on the table. Meanwhile, the vice president of the European Commission confirmed to the press that the EU was offering the UK a permanent 50% cut in customs-related paperwork.
The GBP has not seen any notable reaction to the latest Brexit-related updates.