UK PM Johnson: Will not seek an extension to Brexit, even if the conditions of the Benn Bill are met

The United Kingdom (UK) Prime Minister (PM) Boris Johnson crossed the wires recently. PM Johnson denied availing another Brexit extension despite witnessing a push from the Benn Bill.

Key quotes

“Will not seek an extension to Brexit, even if the conditions of the Benn Bill are met.”

“There are serious negotiations taking place about changing the Irish backstop.”

“I do believe the EU will move on the Irish backstop.”

FX implications

Given the likely supportive catalyst to the no-deal Brexit, the announcement could weigh on the GBP/USD pair. However, no major reaction could be witnessed by the press time as the Cable seesaws near 1.2360.