EU Commission: Equivalence decisions for UK financial services won't be ready by January

The European Commission has said that the EU market access equivalence decisions for the UK's financial services won't be ready for the start of January, Reuters reported on Thursday, citing an EU diplomat.

"The European Commission is looking at how to handle the gap between the end of Brexit transition period and any future equivalence rulings," the diplomat added.

Market reaction

The GBP/USD pair showed no immediate reaction to these remarks and was last seen losing 0.22% on a daily basis at 1.3353.