UK PM Johnson concedes he may have to ask for a Brexit extension

Yohay Elam FXStreet

UK Prime Minister Boris Johnson has conceded he will have to ask for an extension to Article 50 – postponing Brexit. In a speech at the House of Commons, the PM said: 'Whatever letters they make seek to force the government to write, they cannot change my judgment that further delay is pointless, expensive and corrosive of public trust'

The PM may call off the meaningful vote on Brexit. Earlier, Johnson seemed to hint he may call the vote off if the Letwin amendment passes. Speaker John Bercow has selected an amendment by Sir Oliver Letwin that would force the PM to ask for an extension even if the meaningful vote passes.

The debate continues with the leader of the opposition Jeremy Corbyn speaking now.

GBP/USD closed the week at 1.2973, close to the highs. The pound is set to kick off the trading week with a substantial gap.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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