UK PM Johnson: No need for a free trade agreement to involve accepting EU rules

"There is no need for a free trade agreement to involve accepting EU rules on competition policy, subsidies, social protection, the environment or anything similar, any more than the EU should be obliged to accept UK rules," British Prime Minister Boris Johnson said on Monday, as reported by Reuters.

Key quotes

"UK will maintain highest standards without the need for a treaty."

"We've made a choice, we want a comprehensive free trade agreement like Canada's."

"The question is whether we agree to a trading relationship like Canada, or like Australia."

"We are ready to consider a deal on fisheries. The fishing deal must respect the UK as independent coastal state."

"We will always cooperate with the EU on foreign and defence policy where our interests converge."

"We need full legal autonomy."

"I don't wish to exaggerate UK's potential influence but global allies are eager to hear the UK's voice."

GBP stays under pressure

In the meantime, the GBP/USD pair was last seen trading at 1.3060, erasing 1.05% on a daily basis.