UK PM Johnson: Confident we will prosper without EU trade deal

As the next round of Brexit negotiations kicks off in Brussels this week, British Prime Minister Boris Johnson's office in a statement said on Monday that they are confident that the UK will prosper if they fail to reach trade deal with the EU, per Reuters.

"The Prime Minister has been clear that we will not accept any proposals in the negotiations that undermine our status as a sovereign, independent country and if the EU don’t respect the sovereignty of the UK we will leave on Australian terms," the statement further read.

Market reaction

The GBP/USD edged lower following these comments and was last seen losing 0.08% on the day at 1.3176.