UK Chancellor Reeves is to make another push for Britain to secure greater access to the single market next week, amid renewed trade strains between UK and EU, according to FT

UK Chancellor Reeves is to make another push for Britain to secure greater access to the single market next week, amid renewed trade strains between UK and EU, according to FT.

This signals a potential escalation in trade negotiations between the UK and EU, which could impact market sentiment and currency valuations, particularly for the GBP and EUR. If Chancellor Reeves's push results in improved access, it might alleviate some trade tensions, potentially strengthening the pound; however, the ongoing strain suggests continued volatility in the forex markets, especially in relation to how traders interpret the EU's response.