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The European Union (EU) will not seek to suspend Brexit negotiations with the United Kingdom (UK) over the UK’s new Internal Market Bill, Reuters reported on Wednesday, citing EU sources familiar with the matter.

Market reaction

The British pound seems to be recovering its losses against its major rivals after this headline. As of writing, the GBP/USD pair was virtually unchanged on a daily basis at 1.2988. In the meantime, the EUR/GBP pair, which climbed to a multi-week high of 0.9130 earlier in the day, was still up 0.33% at 0.9099.