UK PM Johnson's spokesman: New relationship with EU to be ready to start by Jan. 2021

"The Conservative election manifesto was explicit in ruling out any extension of a transition period," British Prime Minister Boris Johnson's spokesman told reporters on Tuesday and added that they intend the new relationship to be ready to start by January 21. "In all circumstances, we are leaving the EU customs union and single market, businesses will be prepared for that."

The British pound's reaction to these remarks was muted and the GBP/USD pair was last seen trading at 1.3190, losing 1.05% on a daily basis.