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

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.