UK PM Boris Johnson to EU Tusk confirming the extension"

• UK Prime Minister Johnson's letter to EU's Tusk.
• GBP/USD in the balance of Brexit developments yet remains on fragile grounds. 
• Vote on General Election will take place at 6:45 London time.

Details of UK Prime Minister Johnson's letter to EU's Tusk whereby he officially confirms the extension expresses his concerns that the unwanted extension is damaging to the UK's democracy and to its relationship with the EU.

Key notes:

• Vote on General Election will take place at 6:45 London time.
• I confirm the extension.
• This is an unwanted prolongation.
• He confirms the UK's formal agreement to Brexit extension.
• Unwanted extension is damaging to our democracy and to relationship with EU.
• Urges EU to make clear that a further extension is not possible after January 31.
• Tells Tusk we will not seek to disrupt EU's business .
• He fears parliament will never ratify deal when it has the option of further delay.
• Urges EU members to make clear extension beyond Jan 31 is not possible.
• Hope to move forward rapidly to ending our EU membership and beginning talks on free-trade agreement.

Meanwhile, Boris Johnson has begun the parliamentary debate over whether to hold a general election on December 12 and we will have results of the vote a little later on. 

FX implications:

GBP/USD is steady having traded between a 1.2809 low and a high of 1.2876 although trades better bid, en route to the 200-hour moving average located at the 1.28 figure, guarding territories back to the 21st Oct highs on the 1.30 handle. Indeed, while delays and less likelihood of a hard Brexit is a supportive factor for the pound, continued uncertainty leaves the currency in the balance and on fragile grounds.