UK Treasury Minister Glen: Starting to see green shoots of economic recovery

Dhwani Mehta FXStreet

The UK Treasury Secretary John Glen said in a statement on Tuesday, he is starting to see green shoots of economic recovery.

Meanwhile, UK agreed to a historic trade deal with Australia.

Australian Trade Minister Tehan: Trade deal with the UK has been agreed

Additional comments

“British cars, scotch whisky and confectionery will be cheaper to sell in the tariff-free agreement.”

“Deal also offers young people the opportunity to live and work in Australia and removes barriers for businesses.”

GBP/USD reaction

GBP/USD is extending losses below 1.4100, unable to resist above the last despite the trade deal optimism and upbeat comments on the economic recovery.

A renewed uptick in the US dollar appears to have collaborated with the latest leg down in the spot.

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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