EU's Barnier: There is objective risk of no-deal

The UK makes a trade agreement unlikely at this point, European Union's chief Brexit negotiator Michel Barnier said on Thursday, as reported by Reuters.

"We only have a few weeks left, we should not waste time," Barnier reiterated. "Brexit negotiation is too serious a matter for brinksmanship, there is an objective risk of no-deal."

Market reaction

The GBP/USD pair continues to push lower on these remarks and was last seen losing 0.25% on a daily basis at 1.2700. Meanwhile, the EURGBP was up 0.4% at 0.9120, reflecting the broad GBP weakness.