UK Prime Minister Boris Johnson is set to withdraw from the Brexit trade talks unless the European Union (EU) agrees not to comply with his demands, reports The Sun.
PM Johnson is said to be telling the EU today that he will not change from a firm UK stance against Brussels' outrageous demands.
The pound pair against the US dollar recorded a significant drop of around 150 pips as soon as the report was published trading at 1.3240.
The statement came after Brexit chief negotiator Michel Barnier confirmed to EU ambassadors that three key issues on fisheries, fair competition and governance have yet to be resolved.
Earlier, there were allegations from EU sources, which said both sides had achieved great success in the fisheries issue, but the statement was opposed by the UK government.
Boris Johnson is expected to speak to EU Commission President Ursula von der Leyen tonight to try and reach a political solution to unresolved issues.
Meanwhile, Irish Foreign Minister Simon Coveney said that Michel Barnier had given a very bleak assessment of the prospects of the agreement to EU ambassadors.
This at once pushed the pound currency to fall lower to a 2-week low against the USD.
