UK Brexit Minister Lord David Frost said on Friday that “we have not made enough progress on the Northern Ireland Protocol” in an FT op-ed cited by Reuters. Frost added that burdensome customs arrangements and the way EU rules are applied need to be changed drastically.  

Market Reaction

GBP does not seem to have reacted to the latest Brexit news. GBP/USD continues to move lower, though this is more a dollar-driven move than anything else in wake of hawkish commentary from Fed’s Waller, who said the March meeting was live for a first rate hike. 

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