During the early Thursday morning in Asia, The Telegraph released news stating that the UK PM Boris Johnson will accept border check at the Northern Ireland during the next week’s speech.
Key quotes
Boris Johnson will tell the EU he is prepared to accept post-Brexit border checks rather than allowing Britain to be a rule-taker.
Whitehall sources have told The Daily Telegraph that while Mr. Johnson wants to avoid tariffs and quotas on cross-Channel trade, he will never cave into demands for alignment on regulations, despite knowing ‘the consequences that flow from that’.
It means Mr. Johnson will tell businesses they might face extra paperwork and physical checks on goods crossing the border, a price he is willing to pay to avoid crossing his own ‘red lines’.
FX implications
While this should ideally weigh on the GBP/USD pair, the cable seems to show no major reaction to the news while taking rounds to 1.3010 by the press time.
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