“Britain and the European Union have struck a customs deal that could pave the way to ending years of post-Brexit wrangling over Northern Ireland,” said The Times late Tuesday.

The Times also stated that it understood that Brussels has accepted a proposal that would avoid the need for routine checks on products destined for the province.

“Separately the EU has conceded for the first time that the European Court of Justice could rule on issues relating to the province only if a case was referred by the Northern Irish courts,” adds The Times.

Previously Brussels had insisted that the European Commission should be able to take cases straight to the court.

GBP/USD remains sidelined

GBP/USD fails to cheer the upbeat news, as well as the softer US Dollar, as downbeat UK inflation expectations and housing data raise fears of dovish Bank of England (BOE) actions.