The pound has dived after the EU's chief negotiator said Brexit talks have reached 'deadlock'

LONDON — The pound has dived late on Thursday morning after the EU’s chief Brexit negotiator Michel Barnier said that talks between Britain and the bloc have reached “deadlock.”

Appearing at a press conference in Brussels, Barnier said that the lack of progress in talks was “very disturbing.”

“We’ve reached a state of deadlock which is very disturbing. We are not asking the UK to make concessions,” he said.

Those words caused a sharp drop in the pound against all major currencies, with sterling losing roughly 0.3% from its starting point on the day, and falling to just $US1.3185, as the chart below shows:

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