EU Commission: EU position has not changed, we want a deal

A spokesman for the European Commission on Tuesday said that their position on Brexit has not changed and added that they still want to have a deal with the United Kingdom (UK).

The spokesman also noted that British Brexit negotiator David Frost is still due to hold talks with the European Commission on Tuesday despite the latest reports claiming that a Brexit deal was now "essentially impossible," per Reuters.

These comments failed to help the British pound stage a meaningful recovery. As of writing, the GBP/USD pair was down 0.42% on the day at 1.2238 and the EUR/GBP pair was up 0.67% at 0.8983.