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UK's Gove: Brexit transition period will not be extended

Some business in the UK believe that the Brexit transition period will be extended, British Cabinet Minister Michael Gove told House of Commons on Wednesday and reminded that it will not be, as reported by Reuters.

Additional takeaways

"The UK is committed to a new free trade agreement with the EU."

"Talks are progressing."

"Things will change no matter what happens."

"Still many businesses have not taken all the steps they need to."

"If businesses are not prepared, there potentially could be much wider disruption."

"Change is what the UK people voted for."

Market reaction

The GBP/USD pair largely ignored these comments and was last seen trading flat on the day at 1.2730.

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