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Ireland’s Foreign Minister Simon Coveney said on Monday that they were able to make significant progress on the level playing field last week but noted that the primary remaining issue is the fisheries. 

“Brexit talks are not in a good place,” Coveney added. “There needs to be a middle-ground position found on fishing. It’s very unlikely that EU states will support a further offer on fishing from that offered at weekend.”

Market reaction

The British pound remains under heavy selling pressure during the European trading hours. As of writing, the GBP/USD pair was down 2.35% on a daily basis at 1.3201.