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British Prime Minister Boris Johnson’s spokesman said on Thursday that Brexit negotiators are still in Brussels to try to see if gaps with the EU can be narrowed, as reported by Reuters.

“Trading on WTO terms is still the most likely outcome,” the spokesperson added.

Market reaction

The British pound largely ignored those comments. As of writing, the GBP/USD pair was up 0.67% on the day at 1.3598 and the EUR/GBP pair was losing 0.25% at 0.9005.

Meanwhile, the UK’s FTSE 100 Index is gaining only 0.16% on the day at 6,581.