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There is much work to be done to bridge the significant gaps remaining with the European Union in the most difficult areas, British Prime Minister Boris Johnson’s spokesman told reporters on Monday, per Reuters.

“The time is very short,” the spokesman reiterated and added that they welcome the fact that they are now negotiating on the basis of legal texts.

Market reaction

These comments don’t seem to be having a significant impact on the British pound’s performance against its rivals. As of writing, the GBP/USD pair was down 0.07% on the day at 1.3030.