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The European Commission President Ursula von der Leyen will make a statement on Brexit at 09:00 GMT this Thursday. According to RTE, the legal action against the United Kingdom is imminent and that a draft “letter of formal notice” has been finalised. The letter focuses on a breach of the “good faith” articles of the withdrawal agreement.

Meanwhile, the British pound remained depressed across the board and the GBP/USD pair was last seen hovering near the lower end of its daily trading range, well below the 1.2900 mark.