UK PM Johnson's spokesman: No possibility of extending Brexit transition period

There is no possibility of extending the Brexit transition period, British Prime Minister Boris Johnson's spokesman reiterated on Tuesday.

"Britain would like to settle simpler issues in talks first to create momentum for a deal," the spokesman added and noted that they are optimistic about finalizing a trade agreement with Japan.

Market reaction

The UK's FTSE Index remains under pressure on Tuesday and was last seen losing 1.3% on the day at 5,887. Meanwhile, the GBP/USD pair was gaining 0.75% on a daily basis at 1.3470.