UK's Sunak: We are very committed to Brexit talks timeline

British finance minister Rishi Sunak reiterated that the UK is very committed to Brexit talks timeline and said that they will be in contact with Brussels this week.

"The best way out is to grow the economy so the long-term impact on public finances will be reduced," Sunak added during the daily government news conference. "Universal basic income is not the right response, universal credit is working well."

Market reaction

The GBP/USD pair largely ignored these comments and was last trading near 1.3900, where it was virtually unchanged on a daily basis.