The Sun newspaper quoted a source late-Monday, citing that the UK PM Boris Johnson believes the European Union (EU) will yield at the last minute and do a Brexit deal with him to “save Ireland”.
The Sun added: “A no-deal Brexit would hurt Ireland the most and Johnson is convinced European leaders will budge over the key issue of the so-called Irish backstop.”
The sentiment around the pound is seen turning sour in the Asian trades, as the no-deal Brexit anxiety continues to linger. The Cable is seen heading back towards the 1.2050 level, a break below which will expose the 31-month lows of 1.2016.
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