UK Queen speech: Government's priority is to secure UK's departure from EU on October 31

In her prepared speech at the State Opening of Parliament, the queen said the British government's priority is to secure the United Kingdom's (UK) departure from the European Union on October 31st and added that the government intends to work towards a new partnership with the EU.

"The government's new economic plan will be underpinned by a responsible fiscal strategy," the queen noted. "The government will bring forward a national infrastructure strategy."

The queen refrained from making any other comments regarding Brexit talks and the GBP/USD pair was last seen trading at 1.2558, erasing 0.7% on a daily basis.