The UK has only a few weeks left before the deadline for trade talks with the European Union. In addition the UK has sought to establish trade relations with several other countries, including the United States (U.S.).
A recent report from the UK Ministry of Commerce on Monday said the UK and US administrations were confident that ongoing trade negotiations could reach a comprehensive agreement.
The two sides have now completed a fifth round trade negotiation which has the objective of signing a trade agreement. The UK administration is of the view that a good deal of negotiations to reach an agreement is like a durian, after the UK withdrew from the European Union in January.
Following a statement by the UK Ministry of Commerce, a comprehensive agreement would provide significant and beneficial benefits to the UK economy.
Both Britain and the United States have repeatedly discussed the prospects of an agreement, but the US presidential election has raised uncertainty. However, it was reported that further negotiations after the U.S. election had been agreed.
The GBP began to rise from the downtrend to the 1.2938 exchange rate against the US dollar as of 9.20 p.m.
