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The UK and the EU have mutual interests in “closest possible partnership” but the new deal will not bring the benefits of being a member of the EU back to the UK, European Commission President Ursula von der Leyen noted on Wednesday.

“The EU will be vigilant in Brexit deal implementation in Northern Ireland,” von der Leyen added. “We want the EU and the UK to forge close partnership but we must also sort out how to deal with the UK as a third country.”

A precondition for a zero-quotas, zero-tariffs trade deal with Britain will be the level playing field, von der Leyen further explained. 

GBP reaction

The British pound largely ignored these remarks and the GBP/USD pair was last seen trading at 1.3005, erasing 0.18% on a daily basis.