EU's von der Leyen: Strong measures can be taken if one party does not play by rules

European Commission President Ursula von der Leyen told a press conference that strong measure can be taken if either the UK or the EU "doesn't play by the rules."

Additional takeaways

"We built in safeguard necessary to make sure there is a strong incentive for both sides to stick to what agreed."

"We had a very strong negotiating position."

"COVID did not make talks easier."

"It is outstanding what teams did to achieve this deal in only twelve months."

"In any case, hard Brexit would have hit the UK harder than the EU."

Market reaction

The GBP/USD pair was last seen trading at 1.3355, gaining 0.47% on a daily basis.