EU's Tusk confirms Brexit extension until 31 January 2020

The European Council President Donald Tusk, via his verified Twitter handle, confirmed a Brexit extension until 31 January 2020.

"The EU27 has agreed that it will accept the UK's request for a #Brexit flextension until 31 January 2020. The decision is expected to be formalised through a written procedure."

That is very much anticipated by the market and hence, did little to provide any meaningful impetus to the British Pound. The GBP/USD pair extended its sideways consolidative price action, below mid-1.2800s, as the key focus remains on Monday's key UK election vote.