Canada, UK closing in on a trade deal – Bloomberg

Dhwani Mehta FXStreet

Canada and the UK are closing in on signing a new trade deal and that the announcement could come as early as Thursday, Bloomberg reported, citing people familiar with the matter.

The fresh agreement is likely to replace the existing deal the UK has while within the European Union (EU) membership,

Earlier this week, the UK trade minister Greg Hands said that they are on track to strike a trade deal with Canada by the end of the year.

Market reaction

Markets ignore the optimism around a likely UK-Canada trade deal, as the covid and no-deal Brexit fears takeover.

At the time of writing, GBP/USD drops 0.24% to 1.3235 while USD/CAD trades better bid around 1.3090.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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