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“The extension of the Brexit transition period is very unlikely but anything is possible,” Ireland’s Foreign Minister Simon Coveney said on Wednesday.

Additional takeaways

“The EU has had enough of this and want certainty even if that means no-deal contingencies.”

“The UK has really damaged trust.”

“Very unlikely that the EU would go to great lengths to extend talks into the new year.”

“Don’t get your hopes too high on the deal.”

“It can be resolved with the right approach from both sides but failure is a distinct possibility.”

Market reaction

These comments don’t seem to be having a significant impact on the GBP/USD pair, which was last seen gaining 0.76% on the day at 1.3454.