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The Irish Foreign Minister Simon Coveney was out on the wires in early trades, via Reuters, responding to the Irish national broadcaster RTE report published on Monday.

Key Quotes:

 it was time the European Union received a serious proposal from the British government if a Brexit deal is to be agreed.

“Non-Paper = Non-Starter. Time the EU had a serious proposal from the UK Govt if a Brexit deal is to be achievable in October. NI and IRE deserves better!”  

RTE reported that the UK proposed in a technical, or so-called “non-paper”, to set up “customs clearance centres” on both sides of the Irish border after Brexit in order to avoid the need for checks on the border itself, an idea Dublin has long rejected.

The Cable holds closer to the two-week lows of 1.2270 so far this Tuesday’s Asian trading, with the bias leaning to the downside amid broad-based US dollar strength, British political uncertainty and rising odds of a no-deal Brexit.