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The European Union (EU) will request a two-month extension, until the end of April, from Britain to ratify the Brexit agreement, Reuters reported on Wednesday.

The EU-UK Partnership Council, that was formed after the trade agreement, is expected to meet to assess the request.

On Tuesday, the UK’s former Brexit negotiator David Frost said that he was aware of the EU’s intention to ask for an extension. Forst further noted that relations with the EU have been problematic.

Market reaction

The GBP/USD pair edged slightly lower on this headline and was last seen gaining 0.12% on a daily basis at 1.3830.