UK PM Johnson's spokesman: There are significant gaps but a deal is still possible

"As we enter the final stages of the negotiations with the EU, our focus is on what will take to get a trade deal in place; there remains much to be done," British Prime Minister Boris Johnson's spokesman said on Monday, per Reuters.

Additional takeaways

"There is the ability to have more informal talks right up until the European Council."

"If there is to be a deal, needs to come together in mid-October."

"We have consistently put forward proposals on fisheries and subsidies that we feel are straightforward."

"There are significant gaps but a deal is still possible."

Market reaction

The GBP/USD pair edged slightly lower after these comments but continue to cling to strong daily gains. As of writing, the pair was up 0.94% on the day at 1.2866.