UK's Davis: much work still needs to be done in Brexit talks

Addressing a joint press conference, following closure of the fifth round of Brexit talks, UK's Brexit minister was noted saying that teams continued to work constructively but specifics regarding Brexit bill can only come later.

Additional quotes:

   •  UK was ready to start discussions
   •  EU citizens in UK will have completely new streamlined, low cost, registration system
   •  hopes EU leaders will let Barnier explore transition periods with UK

Meanwhile, the British Pound turned sharply lower and pushed the GBP/USD pair below the 1.3200 handle to fresh session lows, in the 1.3170 region.