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“UK businesses will benefit from tariff-free trade on 99 % of exports to Japan after trade deal, said the British Trade Department in a statement on Friday.

Key headlines

“Japan trade deal is an important step towards the UK joining the comprehensive and progressive agreement for trans-pacific partnership.”

“Digital and data provisions in Japan trade deal go far beyond the EU-Japan deal.”

“Japan trade deal will mean improved market access for UK financial services.”

“Japan trade deal gives strong tariff reductions to the UK pork and beef exports.”

Market reaction

The above headlines have little to no impact on the market, as GBP/USD holds the bounce 1.2800 while USD/JPY trades firmer around 106.20.