German government spokesman: UK must make concessions in Brexit talks

"Germany is convinced that it's still possible to reach a Brexit deal with the UK," a German government spokesman said on Monday, as reported by Reuters.

"There is only a little time left to reach a Brexit deal," the spokesman added. "The UK must make concessions in Brexit talks."

Market reaction

The British pound continues to suffer heavy losses against its major peers on Monday. As of writing, the GBP/USD pair was down 1% on the day at 1.3150. Meanwhile, the EUR/GBP pair was gaining 0.85% at 0.8985.