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GBP/USD Daily Forecast – 11 July

Monday, Jul 10 2017
GBP/USD Daily Forecast – 11 July

There were no data releases from the UK yesterday with focus on geopolitical events. The US president, Donald Trump, has said he expects a trade deal with the UK to be completed “very, very quickly” and confirmed he would be coming to London, as he and Theresa May held a bilateral meeting on Saturday. Trump and the British prime minister held a meeting as part of a series of bilateral discussions May held with leaders at the G20 summit in Hamburg aimed at boosting the UK’s trade position after it leaves the European Union. A UK official said the meeting with Trump would focus on “progress with a post-Brexit US-UK trade agreement”.

The US president also hailed the “very special relationship” he had developed with May as the pair met for talks on the margins of the G20. Trump said he expected an agreement on new trading arrangements with Britain to be a “very powerful” one that would be great for both countries. “There is no country that could possibly be closer than our countries,” Trump said. “We have been working on a trade deal which will be a very, very big deal a very powerful deal, great for both countries and I think we will have that done very, very quickly.” He added: “Prime Minister May and I have developed a very special relationship and I think trade will be a very big factor between our two countries.”

 

There will be no major data releases both from Australia and USA tomorrow, so we expect another steadier session.

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