BoE's Woods: Risk of disruption to small payments after Brexit transition period

Sam Woods, deputy governor of the Bank of England, said they are "cautiously optimistic" that the EU will continue to facilitate cross-border derivatives clearance. 

"There is a risk of disruption to small payments after Brexit transition period if further work is not done," Woods added. "Any financial services problems after Brexit transition period could rebound just as much on the EU as on the UK."

GBP/USD reaction

The GBP/USD pair hasn't reacted to these comments and was last seen trading at fresh daily highs near 1.2990, adding 0.3% on a daily basis.