British Cabinet Minister Michael Gove, has announced that they have reached an agreement in principle on all issues of the Joint Committee of the Withdrawal Agreement between the UK and the EU, according to Reuters.
Regarding this development, European Commission Vice President Maros Sefcovic said the agreement will ensure that it is fully operational from January 1, including the Northern Ireland Protocol.
Market reaction
With the initial market reaction, the British pound posted impressive gains against its main rivals. The pair GBP/USD It rallied over 70 pips in a matter of minutes and was last seen trading modestly higher on the day at 1.3380. Furthermore, the EUR / GBP pair erased most of its daily gains and is currently up 0.2% to 0.9066.
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