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Citing a court document, a BBC reporter on Friday said that the British government was planning to send a letter to the European Union (EU) asking for a Brexit extension if they were to fail to reach an agreement by October 19th.

The British pound gathered strength on this headline and the GBP/USD pair was last seen trading at 1.2345, adding 0.12% on the day. Additionally, the EUR/GBP pair started to erase its daily gains and is now trading a couple of pips below the 0.8900 handle, still up 0.1% on a daily basis.