UK PM Johnson: We're not going to extend the transition period

British Prime Minister Boris Johnson repeated on Wednesday that they will not ask for additional time to negotiate the trade deal with European Union. 

"Of course we're not going to extend the transition period but we want to make practical arrangements to help businesses in Northern Ireland," Johnson told parliament, as reported by Reuters.

Market reaction

The market mood remains sour following these remarks. As of writing, the UK's FTSE 100 Index was down 0.55% on a daily basis at 6,395. Meanwhile, the GBP/USD pair was posting small daily losses at 1.3345.