UK PM Johnson's spokesman: PM is clear there will be no negotiations going into 2021

British Prime Minister Boris Johnson's spokesman told reporters on Wednesday that the PM will discuss the main points of difference with European Commission President Ursula von der Leyen at dinner this evening, per Reuters.

Additional takeaways

"If progress can be made at a political level, talks between negotiators could resume in the coming days."

"PM is clear there will be no negotiations going into 2021."

"Chief negotiators David Frost and Michel Barnier will also be at the dinner."

"PM believes there's a good deal to be done, but both PM and European Commission head think there needs to be a political impetus."

"PM will make clear to von der Leyen that he cannot accept any deal that undermines Britain's ability to control laws or waters."

Market reaction

The GBP/USD pair inched slightly lower from the daily high it set at 1.3477 and was last seen gaining 0.8% on the day at 1.3460.