Brexit delay to be approved formally on Tuesday or Wednesday

After European Council President Donald Tusk earlier today announced, via Twitter, that the EU27 will accept the United Kingdom's request for a Brexit extension to January 31st, "The formal flextension decision is made upon the positive conclusion of the written procedure. We hope this to be concluded by Tuesday or Wednesday," a senior EU official told Reuters.

The GBP/USD pair, which rose to a session high of 1.2860 after Tusk's tweet, was last seen trading at 1.2840, adding 0.15% on a daily basis.