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Germany’s Europe Minister Michael Roth said on Tuesday that there is no substantial progress in the EU-UK trade talks, as reported by Reuters.

“The only thing new in Brexit negotiations is the meeting between British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen,” Roth added. “It remains totally uncertain whether Britain and EU can reach a trade deal.”

Market reaction

The GBP/USD pair edged slightly lower after these remarks and was last seen trading at 1.338, down 0.28% on a daily basis.