Brexit: UK's Frost says some firms are facing ongoing difficulties in trade with EU

"I'm sure some firms are facing ongoing difficulties in trade with the EU but I think we are getting back to normal," David Frost, the British minister responsible for implementing the Brexit deal, said on Monday.

Additional takeaways

"There is the risk of gaps opening up in regulation between Northern Ireland and the rest of the UK."

"Protocol must act in a balanced and pragmatic way."

"There's a bit of momentum in talks with the EU on the protocol but not hugely productive."

"If the protocol is undermining the Good Friday agreement rather than supporting it, that is a problem."

"Still hopeful we might be able to make progress in protocol talks."

"We're being as pragmatic about fishing as we can, sure it will settle down."

"I think the EU is still getting used to us not being in the bloc."

Market reaction

The GBP/USD pair showed no immediate reaction to these comments and was last seen posting small daily gains at 1.4102.