Ireland’s Foreign Minister Simon Coveney said on Monday, he believes the European Union (EU) wants a deal but needs to compromise too.

Additional quotes

“Dismissals are more serious this week as compromise proposals are being put forward by the EU.”

“Very close to the point where the EU will say there can be no further compromises.”

“British government seems to be shifting the playing field, they know EU can't move on ECJ.”

These comments come after Coveney warned on Sunday that the UK demands risk a "further breakdown in relations" with the EU ahead of talks this week aimed at resolving the impasse over the Brexit agreement.

Market reaction

GBP/USD is retracing gains due to resurfacing Brexit concerns, now trading at 1.3645, up 0.26% on the day.