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Trade talks between the European Union and the United Kingdom snagged on fishing rights and a deal may still be hours away, Reuters reported on Thursday, citing an EU official familiar with the developments.

Meanwhile, a UK government source told Reuters that the Brexit trade deal could have “some hours to run.”

Market reaction

The GBP/USD pair retreated modestly from session highs on this headline and was last seen gaining 0.72% on a daily basis at 1.3588. Meanwhile, the EUR/GBP pair is losing 0.63% at 0.8972.