UK PM Johnson's spokesman: There will not be an extension to post-Brexit transition period

The government wants to restore the public trust and there will not be an extension to the bost-Brexit transition period, British Prime Minister Boris Johnson's political spokesman said on Tuesday while commenting on European Commission President Ursula von der Leyen remarks.

Von der Leyen said that there was not enough time for a full, new EU-UK partnership deal by the end of 2020.

The GBP/USD pair continues to edge lower below the 1.3100 mark and was last seen trading at 1.3090, erasing 0.25% on a daily basis. Below are some additional takeaways, per Reuters.

"PM Johnson will stress the importance of securing a positive future relationship and ambitious free trade agreement by year-end in meeting with EU Commission President."

"We’ve been clear that political and regulatory alignment with the EU is not something we are looking for."

"UK does not want the mantra that 'nothing is agreed until everything is agreed' to define the trade talks."