UK government source denies report that PM May is seeking new Brexit transition until 2023

According to the latest news headlines floating on the wires, the UK government source has denied a report saying that PM May is seeking new Brexit transition until 2023. 

The UK Times reported earlier today that Theresa May will ask the European Union for a second Brexit transition period from 2021 to at least 2023 to avoid a hard border in Ireland.

The headlines prompted some GBP weakness, with the GBP/USD pair eroding a part of the upbeat UK retail sales data-led strong gains and retreating back below the 1.3400 handle.