UK PM Johnson: Very encouraging that colleagues in EU no longer have an attachment to the backstop

Dhwani Mehta FXStreet

Reuters reports the latest comments from the UK PM Johnson, with the key headlines found below.

Backstop prevents UK diverging on huge range of industrial standards, we may want to regulate differently.

A large number of the important players want a deal including UK, Germany, Ireland and France.

Very encouraging that colleagues in EU no longer have an attachment to the backstop.

In order to get a deal, we need to change the existing agreement.

Progress has been made, but there are still gaps (before a deal can be struck).

Do not wish to elevate belief there will be a New York breakthrough on Brexit.

The pound sees fresh selling on the above comments from the UK PM Johnson, as the Cable turns south towards 1.2470 region.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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