EU Commission expresses strong concerns over UK's unilateral action on N. Ireland protocol

In a statement published on Wednesday, the European Commission said Vice-President Maros Sefcovic will tell the UK's David Frost that they have "strong concerns" over the UK's unilateral action on Northern Ireland protocol, as reported by Reuters.

"In his phone call later today with David Frost, Vice-President Sefcovic will inform him that the European Commission will respond to these developments in accordance with the legal means established by the Withdrawal Agreement and the Trade and Cooperation Agreement," the statement further noted.

Market reaction

The GBP/USD pair largely ignored this headline and was last seen rising 0.15% on the day at 1.3974.