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Sterling fell after Johnson announced his high-level Brexit

2019-10-02 01:17 pm | Resource: News | No Views : 45

 Sterling fell after Johnson announced his high-level Brexit

The pound fell against its major counterparts in Wednesday's European session, as the country's construction sector contracted further in September and investors looked forward to Prime Minister Boris Johnson's speech outlining the Brexit offer at the annual Conservative Party conference today.

Johnson: The UK does not want to monitor the border in Northern Ireland

 UK Prime Minister Boris Johnson said on Wednesday he would not propose any border controls on or near the border between Ireland and Northern Ireland in the Brexit deal. Johnson is due to send a formal proposal on the Irish issue to the EU later today.

Speaking at the Conservative Party conference, Johnson added that the UK would respect the peace process and the Good Friday Agreement. "Through a process of democratic approval renewable by the Northern Ireland executive and assembly, we will go further and protect the current regulatory arrangements for farmers and other companies on both sides of the border," he said.

Johnson stressed that he noted that technology was constantly being developed and that it could help solve the border problem and commented that technological details should not determine whether there was a deal between the UK and the EU. However, he confirmed that he was ready to leave the EU without agreement on October 31.

Johnson: UK to leave EU in October

 Britain will leave the European Union on October 31 "come to what may happen," Prime Minister Boris Johnson said at a Conservative Party conference on Wednesday. Johnson reiterated that he would work to reach an agreement with the EU but would leave the bloc at the end of the month even if no agreement was reached.

Johnson criticized parliament for making it difficult for his government to hand over Brexit by enacting legislation to prevent Brexit, which he refers to as the "surrender project." The prime minister of the United Kingdom claimed that it was "sad" that British voters had a say in what was happening on reality television programs rather than on matters most important to the country, such as Britain's exit from the European Union, for which they voted in a referendum three years ago.

However, he stressed that voters were "desperate" for the UK "quietly and rationally" to end Britain's exit from the EU and "move" to other priorities, which the government intends to do. "We can, and will, and we will," he said, noting that his government would make "constructive and reasonable" proposals on the Brexit deal later in the day.

Pound Trading
  • The pound fell to 0.8919 against the euro from Tuesday's closing value of 0.8879.
  • The pound, which closed Tuesday's trading at 1.2301, rose against the dollar at 1.2227.
  • The pound fell to 131.62 against the yen, the lowest since September 9.
  •  The pound rose to 1.2264 against the franc and then stabilized. The pair finished yesterday's trading at 1.2219.


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