Germany’s Roth: We have not made any progress in recent months on the main topics of Brexit

Amid the ongoing European Union (EU) summit Germany's Europe Minister Michael Roth crossed wires, via Reuters, while suggesting that the key Brexit issues are yet unsolved.

Key comments

We have not made any progress in recent months on the main topics of Brexit.

The atmosphere is constructive at the working level.

We want a Brexit deal but not at any price.

Market implications

GBP/USD remains on the back foot around 1.2890, down 0.15% intraday, as the update from Germany suggests the continuation of the unending Brexit drama. The Sterling traders are particularly more interested in UK PM Boris Johnson’s speech over the Brexit approach at the end of the EU summit.

Read: GBP/USD battles 1.2900 ahead of UK PM Johnson's Brexit approach