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Commenting on German Chancellor Angela Merkel’s comments, Nigel Dodds, Deputy Leader of the Democratic Unionist Party   (DUP), on Tuesday argued that Merkel’s comments reveal that the EU’s  and Dublin’s real objective is to trap Northern Ireland.

“The EU  is not interested in a negotiated outcome; we will not accept any such ultimatum or outcome,” Dodds added. “The real intention is to trap Northern Ireland in a customs union with the EU  forever, with Dublin in the driving seat.”

The GBP/USD pair remains under pressure following these comments and the GBP/USD pair was last seen trading at 1.2230, down 0.5% on a daily basis.