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Trade Talk Drives GBP Over Virus Fears -- Market Talk

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02/24/2020 | 05:03 pm

21:48 GMT -- GBP/USD is trading in a narrow range around 1.2920. With only 12 coronavirus cases in the UK (of which 8 patients have since recovered and no recorded deaths,) GBP will be driven for now by trade negotiations with the EU. CBA says the EU and UK are expected to formalize their negotiation objectives this week. The UK has already emphasized that under a new trade relationship with the EU there will be regulatory flexibility and an end to the role of the European Court of Justice. In contrast, the EU insists on regulatory alignment on issues like the environment, state aid and worker's rights. (; @JamesGlynnWSJ)

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