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The European Union’s (EU) chief Brexit negotiator, Michel Barnier, told EU ambassadors on Friday that they have only a few days to reach a trade deal with the United Kingdom, Reuters reported, citing an EU diplomat.

“EU ambassadors supported Barnier’s negotiation approach, they want a deal but not at any price,” the diplomat further added. “EU ambassadors noted a no-deal outcome cannot be excluded and called the EU Commission to present contingency measures for a no-deal urgently.”

Market reaction

The GBP/USD pair edged lower on this headline and was last seen losing 0.05% on a daily basis at 1.3350.

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