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There is no need to reach a Brexit deal at any price, the European Union (EU) Internal Market Commissioner Thierry Breton said ahead of the EU Summit on October 15.

Although he added, “we would prefer to have a Brexit deal.”

“We are ready in case of a no-deal outcome,” he said.

His comments reaffirm the latest Bloomberg reports, citing that the EU leaders are likely to announce a no breakthrough in the Brexit negotiations in the Summit.

Market reaction

GBP/USD extends Tuesday’s sell-off, as bears attack 1.2900, down 0.20% on the day.