UK PM Johnson: Brexit talks are obviously at a critical point

When asked whether Brexit talks with the European Union were failing, "talks are obviously at a critical point," British Prime Minister (PM) Boris Johnson's spokesman told reporters on Tuesday. "We need to ensure we leave on October 31st and that’s why we are making extensive preparations for no-deal."

These comments did little to nothing to help the British pound recover the losses it suffered against its rivals today. As of writing, the GBP/USD pair was down 0.6% on the day at 1.2215. Below are some additional quotes, as reported by Reuters.

"The PM told cabinet there was no doubt that Benn act has had an impact on Brexit talks."

"The PM told Merkel the EU must compromise if there is to be a deal."

"The PM told cabinet that we still want a deal and technical talks are ongoing."

"The PM's position is that the UK leaves the EU in its entirety and it is not acceptable for Northern Ireland to be left behind in customs union."

"We have not seen compromise from the EU so far."

"The PM is expected to continue to engage with the EU leaders. We are willing to have intensive talks in order to find a way through to a Brexit deal."