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While testifying before the Treasury Select Committee on Wednesday, Bank of England (BoE) Governor Andrew Bailey said that markets were broadly expecting the Brexit deal that the UK reached with the EU, per Reuters.

Additional takeaways

“We are already seeing that a certain amount of financial services business is having to migrate to the EU.”

“Around 5,000 to 7,000 finance jobs have migrated to the EU because of Brexit.”

Market reaction

The GBP/USD pair showed no immediate reaction to these remarks and was last seen losing 0.43% on the day at 1.3565.