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British Prime Minister Boris Johnson’s spokesman said on Friday that it will not be possible to reach a deal with the US if it doesn’t respect the UK’s fundamental principle of taking back control, as reported by Reuters.

Additional takeaways

“We are at a very difficult point in the talks.”

“There are still some issues to overcome.”

“The British side is working hard to reach an agreement.”

“Time is now very short.”

Any weekend talks are contingent on what happens today.”

“PM will work at chequers this weekend, will be in contact with the negotiation team.”

“Our position on clauses in the Internal Market Bill remains unchanged.”

Market reaction

The GBP/USD pair showed no immediate reaction to these comments and was last seen gaining 0.13% on a daily basis at 1.3470.