EU'a Barnier: Decision needs to be taken by end June whether or not to extend transition

A decision needs to be taken by the end of June on whether or not to extend the Brexit transition period, European Union's Chief Brexit Negotiator Michel Barnier said on Friday.

"Peace and stability in Ireland remain a priority," Barnier added. "Britain has consistently rejected the idea of a transition extension. More than before, the clock is ticking."

Market reaction

The GBP/USD pair largely ignored these comments and was last seen gaining 0.2% on a daily basis at 1.2365 and the UK's FTSE was down 0.48%.