EU's Sassoli: UK has to respect previous deals or we won't make any progress

Commenting on the latest Brexit developments, "Britain has to respect previous deals or we won't make any progress," said the President of the European Parliament, David Sassoli, on Thursday.

"The EU will negotiate with Britain until the bitter end," Sassoli added, as reported by Reuters.

Market reaction

The British pound seems to be having a difficult time recovering its losses following these comments. As of writing, the GBP/USD pair was down 0.21% on the day at 1.2889 and the EUR/GBP pair was up 0.44% at 0.9106.