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European Commission President Ursula von der Leyen noted that she is convinced a trade deal between the European Union (EU) and the United Kingdom (UK) is still possible, the Financial Times reported on Thursday.

According to the news outlet, von der Leyen further added that the UK’s decision to pursue legislation overriding elements of the Withdrawal Agreement had come as a very unpleasant surprise.

Market reaction

The GBP/USD pair staged a rebound on this headline and was last seen trading at 1.2950, where it was still down 0.12% on a daily basis.