UK PM Johnson spokesman: Withdrawal Agreement needs to be reopened and backstop abolished

British Prime Minister Boris Johnson's spokesman crossed the wires in the last minutes, saying that the PM will be having calls with EU leaders and that he will stress their desire for a deal. However, the spokesman further added that Johnson will also note that the Withdrawal Agreement needs to be reopened and backstop abolished.

The GBP/USD pair seems to be coming under a renewed bearish pressure on these headlines and was last down 0.2% on the day at 1.2430. Below are some other key quotes, per Reuters.

"Johnson told Macron what he wants to achieve on Brexit and they agreed to stay in contact."

"UK is ready to begin talks with EU on Brexit, but is clear-eyed about what the basis for those discussions is."

"No plans for an emergency budget in the autumn, fiscal events are announced by the treasury."

"PM is chief negotiator on Brexit, Brexit minister Barclay will be Barnier's counterpart in talks."