Citing a UK Cabinet Office source, Sky News reported on Wednesday, post-Brexit checks on goods coming to the UK from the European Union (EU) are to be streamlined.

Key takeaways

“A new model will be announced later on Wednesday to "reduce the need for checks for many types of goods.”

"The government is delivering on our ambition to have the world's most effective border.”

"We are working with stakeholders and are taking a pragmatic approach to phase in these controls to give a business the opportunity to prepare."

Market reaction

GBP/USD fails to draw any inspiration from the encouraging Brexit news, keeping its range at around 1.2490, down 0.07% on the day.