Ireland's Coveney: UK's alternative arrangements do not do the same as backstop

Commenting on the UK government's statement about them looking to find a wide range of flexible and creative solutions to the Irish backstop, "the UK's alternative arrangements do not do the same as the backstop," Ireland's foreign minister, Simon Coveney, said, per Reuters.

The British pound ignored this remark and the GBP/USD pair was last seen trading near 1.2300, gaining 0.7% on a daily basis. 

"We are ready to negotiate in good faith an alternative to the backstop with provisions to ensure the Irish border issues are dealt with where they should always have been: in the negotiations on the future agreement between the UK and EU," a spokeswoman for the UK government earlier today stated.