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Andrew Hauser, the Bank of England’s executive director for markets, said on Thursday that the Brexit transition has so far been very smooth for the financial markets, as reported by Reuters.

Additional takeaways

“UK intends to maintain robust regulatory standards after Brexit.”

“UK shaped EU financial regulation, so there isn’t a massive wishlist of things to change.”

“It is striking how optimistic the tone is in financial markets.”

“Huge impulse from the monetary and fiscal policy has done no harm to level of risky asset prices.”

“We need to look at whether asset prices have got ahead of the underlying economy but so far so good.”

Market reaction

The GBP/USD pair edged lower in the last hour and is currently losing 0.32% on the day at 1.3564.