UK’s Truss: Making good progress with New Zealand

Dhwani Mehta FXStreet

“We have made great progress so far, and I look forward to taking negotiations up a gear in the third round,” the UK Trade Minister Liz Truss said Monday.

Additional quotes

“New Zealand is a vital ally that shares our belief in free enterprise, democracy and the importance of being tough on countries who don’t play fair.”

“We want a deal that pushes new frontiers in areas like digital and data and the environment, and delivers for people across the UK.”

Meanwhile, a source close to the talks said, “kiwi wine would be cut to 0 percent tariffs - so should mean cheaper Oyster Bay and Marlborough wine for punters. The deal isn’t done yet, but we’ve made good progress,” The Sun reported.

Market implications

With a free trade deal on the cards between both the sides, the kiwi bulls remain unimpressed alongside the cable traders.

NZD/USD clings to size-able gains above 0.7200 and GBP/USD defends the 1.3700 barrier, as of writing.

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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