During the weekend, the UK Express reported the start of the US-UK free trade agreement amid this week. The news also signaled that the trade talks exerts pressure on the European Union (EU) as far as the Brexit negotiations are concerned.
Key quotes
"The significant move comes amid growing optimism that the two countries can have a first stage deal in place by the end of the year when the UK’s transition period with the EU comes to an end."
"The International Trade Secretary Liz Truss and the US Trade Representative Robert Lighthizer are launching negotiations through a video conference call. This first round of negotiations will last for around two weeks and will involve around 100 negotiators on each side."
"Meanwhile, Tory MPs are pressing the government to ensure trade deals are in place to speed up Britain’s recovery from the coronavirus."
FX implications
Despite being risk-positive news, the fears of the US-China trade war has kept the US dollar strong against the majority of its counterparts in early Asian session Monday. The GBP/USD remains on the back foot around 1.2480 by the press time.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD: There is room for further losses near term
AUD/USD resumed its weekly retracement and slipped back below the 0.6900 support to print multi-day lows against the backdrop of the intense move higher in the US Dollar on Thursday.
EUR/USD faces a key contention zone at 1.1000
EUR/USD extended its bearish tone and dropped for the fifth straight day on Thursday, always amidst the dominating risk aversion and the still incessant upside momentum of the Greenback.
Gold struggles to gain traction, trades below $2,650
Gold oscillates in a tight range below $2,650 after bets fade that the Fed will continue slashing interest rates aggressively. Although XAU/USD finds support from increasing geopolitical risks, the broad USD strength doesn't allow the pair to stage a rebound.
XRP suffers 4% decline as SEC appeals ruling in Ripple lawsuit
XRP extended its losing streak on Thursday. The asset slipped to $0.5208 as traders digested the recent developments in the SEC lawsuit. The US financial regulator’s decision to file an appeal on Thursday of the Ripple lawsuit has invited criticism from Ripple executives and XRP holders.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.