UK’s Truss: Making good progress with New Zealand

“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.