Sterling dives as Barnier reveals 'disturbing deadlock' in Brexit negotiations

Warning talks unlikely to progress

The pound has suffered further falls following claims from EU chief negotiator Michel Barnier that Brexit talks between the UK and the bloc were in a state of "deadlock".

The UK currency is down 0.7% to $1.3134 on an intraday basis, having started the day with a small rise, following the speeches given by Barnier and UK counterpart David Davis. Meanwhile, the FTSE 100 index has benefitted from the currency fall, rising 0.4% to 7,564, its higher level in 12 months. Ireland makes Brexit 'back-up' plan Barnier said a lack of clarity over the so-called EU divorce bill, which could see the UK paying the EU billions of pounds, was a key aspect holding back talks. He said: "On this question, we have reached a state of deadlock which is very disturbing f...