FX

UK, Australia hold further talks in bid to strike trade deal within weeks

Reuters came out with the news during early Thursday, quoting the British High Commissioner to Australia Vicki Treadell, “Britain and Australia held another round of talks to progress a free trade deal.”

Additional comments…

We are working hard to have an agreement in principle at the bilateral between Prime Ministers Johnson and Morrison on June 15.

Last night secretary state Liz Truss had another session with Trade Minister Tehan and respective chief negotiators.

Market reaction…

Neither S&P 500 Futures nor GBP/USD could cheer the news as British farmers consider this move as negatively affecting their incomes. However, the GBP/AUD prices could be seen as picking up following the announcement.

Read: GBP/USD remains depressed below 1.4180 ahead of UK PMI data

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