Germany's Roth: EU-UK trade talks have essentially not made progress on substance

The EU-UK trade talks have not essentially made any progress on substance, Germany's Europe Minister Michael Roth said on Tuesday and reminded that the time is running out.

Additional takeaways

"EU stands together, won't engage in the blame game."

"EU has to step up no-deal contingency planning."

"We want to do our best to get a deal."

"EU stands behind the Brexit treaty and its provisions on the Irish border."

Market reaction

The British pound struggles to stage a recovery against its rivals after these comments. As of writing, the GBP/USD pair was down 0.61% on the day at 1.2984.