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A spokesperson for the European Commission said on Tuesday that they are not excluding that Brexit talks can continue after the transition period ends, as reported by Reuters.

Meanwhile, European Union’s chief Brexit negotiator Michel Barnier noted that he met his British counterpart David Frost to prepare the next steps. “We need a school, even a university, of patience,” Barnier added.

Market reaction

These comments don’t seem to be having a significant impact on the British pound’s performance against its rivals. As of writing, the GBP/USD pair was down 0.25% on the day at 1.3342.