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The Telegraph recently spread the news that the UK PM Boris Johnson is set to kick start trade talks with the US within the next two weeks, amid frustration in Number 10 at EU “time-wasting.”

Key quotes

The Prime Minister will next week (March 2) publish the Government’s ‘red lines’ for its US trade negotiations which are expected to push back on US demands for its drug and health firms to have greater access to the British market.

In an apparent nod to US concerns over Britain’s tough stance on food and agricultural standards, George Eustice, the Environment Secretary, on Sunday appeared to soften the UK’s resistance to importing American chemically-treated chicken.

FX implications

While the news should ideally help the GBP/USD pair, the buyers and the sellers are jostling around 1.2950 by the press time of early Monday as markets are more interested in coronavirus updates amid risk-off.