EU's Juncker: Welcomed PM Johnson's determination to advance Brexit talks

Eren Sengezer FXStreet

European Commission President Jean-Claude Juncker welcomed British Prime Minister Johnson's determination to advance Brexit talks and acknowledged the positive advances, notably with regards to the full regulatory alignment for all goods and the control of goods entering Northern Ireland from Great Britain, the European Commission said in a statement on Wednesday.

The British pound edged higher on these comments and the GBP/USD was last seen trading at 1.2317, adding 0.13% on the day. Below are some additional key takeaways, per Reuters.

"We will need further work in the coming days, notably with regards to the governance of the backstop."

"The delicate balance struck by the Good Friday Agreement must be preserved."

"Another concern that needs to be addressed is the substantive customs rules."

"Commission will now examine the legal text objectively."

"The EU wants a Brexit deal, will remain united and ready to work to make this happen."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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