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The Cabinet Committee has approved the UK’s negotiating mandate for trade talks with the European Union and the first round of negotiations will begin in Brussels next Monday, British Prime Minister Boris Johnson’s spokesman announced on Tuesday.

“We are looking forward to engaging constructively with the EU,” the spokesman added. “The UK’s primary objective is to restore the economic and political independence on January 1 2020.” 

GBP reaction

These comments were ignored by the market participants and the GBP/USD pair was last seen trading at 1.2966, up 0.3% on a daily basis.