31.12.202012:09 Forex Analysis & Reviews: UK Parliament signs the Brexit trade deal

The UK Parliament has approved the Brexit trade deal on Wednesday, following the signing of the formal exit of Britain from the EU.

Both sides announced that this is a chance to start a new chapter in their relations, and that more than four years of negotiations have finally ended. Now, there is a great opportunity to see nearly $ 1 trillion of annual trade.

The EU also stressed that it is very important for the UK and the European Union to look ahead as they open a new chapter in their relationship.

And because of this, the pound reached above 1.36 in the market.

At a specially convened session of the parliament, UK Prime Minister Boris Johnson said that he very much hopes to work in tandem with the EU to change the UK economy.

Brexit is not just the end, but also the beginning, since the UK has now gained its own sovereignty. Johnson noted that "now, the responsibility falls on all of us, so we must properly use the tools and newfound powers that we acquired."

Bill Cash, a Eurosceptic who has worked for a long time in Europe, said that Johnson became the savior of the UK against submission to the EU.

Johnson responded to this by saying that he would like to close this long-standing and painful issue of Britain's political relations with the EU, and become its best friend and ally.

A year ago, the UK officially left the EU. Now, starting January 1, the new partnership will have to regulate all kinds of trade relations. The deal will take effect until the end of February, until the European Parliament finally approves it and makes it permanent.