UK's Frost: Relations with EU will be bumpy for a time

The British minister responsible for implementing the Brexit deal, David Frost, noted on Monday that the relations with the European Union will be bumpy for a time, as reported by Reuters.

Additional takeaways

"We want to get the EU relationship off to a decent start."

"We will want to look at areas where we can diverge from EU regulatory principles."

"Arrangements that are consistent with lighter touch common-law arrangements we will want to look closer at."

Market reaction

These comments don't seem to be having a significant impact on the British pound's performance against its rivals. As of writing, the GBP/USD pair was unchanged on the day at 1.4071.