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Speaking at  the Conservative Party conference in Manchester, British Prime Minister (PM) Boris Johnson said that they will allow the UK  – whole and entire – to withdraw from the EU, with control of their own trade policy from the start. Below are some additional key quotes, per Reuters.

“This is a compromise by the UK.”

“I hope very much that our friends understand that and compromise in their turn.”

“Let us be in no doubt that the alternative is no deal.”

“No deal is not an outcome we want, it is not an outcome we seek at all but it is an outcome for which we are ready.”

“Only by delivering Brexit that we can address those who feel ignored and left behind.”

The fact that the PM hasn’t yet provided any details regarding the proposals sent to the European Union causes the market to ignore his comments. As of writing, the GBP/USD pair was down 0.35% on the day at 1.2258.