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Member states of the European Union have started to prepare the procedure of the provisional application of the new trade deal with the United Kingdom from January 1, Reuters reported on Wednesday, citing three diplomatic sources.

The Europea Commission told member stated to be ready for a meeting on Thursday morning in case a deal is finalized on Wednesday, sourced further told Reuters.

Market reaction

The British pound started to gather strength against its rivals on the headline and the GBP/USD pair was last seen gaining 0.8% on the day at 1.3465.