Irish Prime Minister Micheal Martin said on Wednesday that it would be unwise and reckless for the British government to trigger Article 16, as reported by Reuters.

Additional takeaways

"Triggering Article 16 would have far-reaching implications for UK-EU relations."

"UK raising of the ECJ issue is disingenuous and wrong."

"Current situation with regards to Brexit is very challenging and very serious."

Market reaction

The GBP/USD pair is edging lower from session highs in the early American session and was last seen trading at 1.3640, where it was still up 0.2% on a daily basis.