Germany's Merkel: We will think about practical solutions for backstop

German Chancellor Angela Merkel crossed the wires in the last minutes that saying that the EU will remain united in its approach to Brexit and added that they will think about practical solutions for the Irish backstop.

"Britain needs to decide which way it goes, we have made our offer to work closely," Merkel noted. Further commenting on the backstop issue, Merkel said that it is a question of the political declaration on future ties, not of the Withdrawal Agreement.

The British pound rose sharply on these comments and was last seen trading at 1.2128 against the dollar, posting small gains on the day.