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“We don’t want British divergence from the EU rules to result in unfair competition,” European Union’s Chief Brexit Negotiator, Michel Barnier, said on Monday and added that the access to the EU market of 450 million people will not be in exchange for nothing.

“In talks with the UK, we will defend the interests of EU citizens and businesses,” Barnier noted. “We continue to prepare for all options, including a no-deal by year-end.”

GBP sell-off continues

As of writing, the GBP/USD pair was down 1.05% on the day at 1.3060.