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British Brexit Secretary Barclay crossed the wires in the last minutes warning that the UK could remain locked in it forever once the backstop is triggered. Barclay also reiterated that they were aiming for a deal but they will be ready for a no-deal.

“We understand the need to protect the integrity of the single market,” Barclay added. “We recognise the concern about the risk of a backdoor to the single market.”  

The GBP/USD pair ignored these remarks and was last seen trading at 1.2216, erasing 0.57% on a daily basis.