UK PM Johnson: UK is better prepared for no deal than many believe

Addressing lawmakers in parliament, British Prime Minister Boris Johnson said that the UK was better prepared for a no-deal Brexit than "many believe." 

The GBP/USD pair seems to be staging a modest rebound toward the 1.25 handle on the back of Johnson's comments.

"Evidence is that other arrangements for Irish border are possible."

"We are ready to meet and talk with EU, wherever and whenever they are ready."

"Will throw ourselves into negotiations with energy."

"Hope EU will rethink their refusal to rethink the deal."

"If they do not we will have to leave without an agreement."

"But not as ready as should be, must turbocharge preparations."

"Have instructed Michael Gove to make no deal preparations his top priority."

"Finance minister has confirmed all necessary funding for no deal preparation will be made available."

"Will ensure for preparing to leave without a deal is about grasping opportunities."

"Need to have clear economic strategy for UK in all scenarios."

"Will begin right away on working to change tax rules to provide incentives."