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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.