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The European Union’s 27 member states’ envoys will be receiving an update on Brexit at 0830 GMT in Brussels on Friday, Reuters reported on Thursday, citing EU diplomats.

Earlier in the day, British Prime Minister Boris Johnson’s spokesman said that trading on WTO with the EU was still the most likely outcome of the trade negotiations. 

Market reaction

The British pound continues to outperform its rivals. The GBP/USD pair edged slightly higher after this headline and was last seen gaining 0.7% on the day at 1.3602.