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The UK’s Internal Markets Bill states that minister may make provision about the application of exit procedures to goods, or a description of goods when moving from Northern Ireland to Great Britain, Reuters reported on Wednesday, citing a copy of the legislation.

Key takeaways

“Ministers can take into account the need for Northern Ireland goods to enjoy unfettered access to the rest of the United Kingdom when exercising this power.”

“UK Internal Markets Bill acknowledges some powers conferred by it may be inconsistent with international law.”

“Ministers can provide financial assistance to any person for economic development, infrastructure, or cultural and sporting activities.”

Market reaction

The GBP/USD pair extended its slide on this headline and was last seen losing 0.55% on the day at 1.2915.