Brexit: EU27 have agreed in principle on extension, no date set yet

A spokesperson for the European Commission crossed the wires in the last minutes saying that the EU27 have agreed to grant the United Kingdom an extension to Brexit but added that they haven't set a date yet to confirm the reports from earlier.

"There was full agreement on the need for a Brexit extension," the official noted. "There was full agreement to aim to take the decision by a written procedure. EU ambassadors will meet early next week (Monday/Tuesday) to finalise an agreement."

The GBP/USD pair hasn't yet reacted to these comments and was last seen trading at 1.2842, down 0.07% on a daily basis.