UK PM Johnson to stand firm on no more Brexit delays while meeting EU’s Von Der Lyn – UK Express

Anil Panchal FXStreet

The UK Express shared details of what could be expected from Wednesday’s meeting of the UK PM Boris Johnson and the European Union (EC) President Ursula Von Der Leyen. The news relied on No 10 statement while saying that the Prime Minister will insist Britons and citizens across the rest of the European Union have had enough after three years of talks.

Key quotes

UK PM Boris Johnson will tell chief eurocrat Ursula von der Leyen that Britain will not allow any extensions to the Brexit transition period when they meet for their first face-to-face talks on Wednesday.

Mr. Johnson will say he wants to secure a trade deal with the EU by the end of December 2020 when the transition period that keeps existing rules in place ends.

The PM will insist talks on future relations with the bloc will be based on an ambitious free trading agreement rather than continuing to align with rules made in Brussels.

European Commission spokesman Eric Mamer said the meeting would ‘set the scene’ for the next round of negotiations but would not mark the start of full trade talks because the remaining 27 EU nations have not yet agreed to a mandate.

FX implications

The news seems to have been ignored as the GBP/USD stays mostly unchanged while remaining on the back foot around 1.3115/10. The quote earlier ignored news of the BOE’s Governor hinting a rate cut. This could be mainly because of the higher attention to the Asian currencies during the early part of the day.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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