UK PM Johnson: Brexit bill resolves ‘vexed’ European question

Ahead of the UK’s parliamentary voting on the Brexit bill, Reuters came out with the excerpts of PM Boris Johnson’s speech, released by his office, during the initial hours of Wednesday’s Asian session.

As per the news, UK PM Johnson will say, “Britain will be able to trade with its European neighbors and keep control of its laws and destiny.”

The Tory leader is also expected to praise the bill while saying, “Now, with this Bill, we shall be a friendly neighbor – the best friend and ally the EU could have – working hand-in-glove whenever our values and interests coincide while fulfilling the sovereign wish of the British people to live under their own laws, made by their own elected Parliament.”

On a different note, Times came out with the story suggesting Johnson’s extension of the Tier 4 restrictions.

Market reaction…

GBP/USD wavers around 1.3500 while consolidating the previous day’s gains following the news. It should be noted that the cable traders are cautious over the coronavirus (COVID-19) variant’s latest spread and are likely to cheer UK policymakers’ support to the Brexit deal, which is almost certain considering the Labour Party’s readiness to back the deal.

Also read: GBP/USD consolidates either side of 1.3500 level as traders mull what’s next for sterling