UK's Frost: EU needs to adapt to principles set out by PM

The biggest problem that the UK is having with the EU in Brexit talks is the fact that the EU hasn't recognised that it needs to adapt to principles set out by Prime Minister Boris Johnson, the UK's chief Brexit negotiator David Frost said on Thursday.

"We're going to work very energetically to try to reach an agreement," Frost reiterated and noted that he has a good relationship with the EU's chief Brexit negotiator Michel Barnier.

Market reaction

The GBP/USD pair struggled to stage a rebound following these comments and was last seen losing 0.31% on a daily basis at 1.2692.