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“We can get a good agreement for both sides despite very very difficult disagreements,” European Union’s Chief Brexit Negotiator Michel Barnier told reporters in a press conference on Thursday after the first round of negotiations with the UK.

“There are many divergences between the EU and the UK on the future relationship,” Barnier noted. “Serious divergences include a level playing field. The economic agreement with the UK will have to include an agreement on fisheries.”

GBP/USD reaction

The GBP/USD pair pulled away from its daily highs and erased around 30 pips on these comments. As of writing, the pair was still up 0.28% on the day at 1.2906.