EU's Sassoli: Only two options left for Brexit, "an extension or no-deal"

Eren Sengezer FXStreet

In a statement summarising his conversation with British Prime Minister (PM) Boris Johnson on Tuesday, European Parliament President David Maria Sassoli said that there were only two options left for Brexit, "an extension or no-deal," as reported by Reuters.

The British Pound stays under pressure following these comments. As of writing, the GBP/USD pair was down 0.62%, or 75 pips, on the day at 1.2214 and the EUR/GBP pair was up 0.52% on a daily basis at 0.8970. Below are some additional quotes.

"There has been no progress after meeting with PM Johnson."

"We think an orderly Brexit is the best outcome."

"European Parliament will not agree to a deal at any price."

"European Parliament will not agree to a deal that undermines the Good Friday Agreement, or single market."

"The United Kingdom's proposals to replace backstop are a long way short of something Parliament can agree to."

"PM Johnson said he would not request a Brexit extension."

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.