US and the UK pound exchange rates, as reported by Business Insider, have both risen to their highest level in a year.
US Treasury Secretary Steven Mnuchin tweeted the news today, while British Prime Minister Theresa May said she was “disappointed” that the value of sterling had fallen to record lows.
“We need to move quickly to get the economy growing,” May said.
“But I do think that sterling has lost its mojo, and the economy is struggling to get back on track.”
A US-UK deal that the two countries signed last week could see them trade up to $1.5 trillion in new goods and services annually, according to the British government.
May told a House of Commons committee last week that the US had “reached a point where it cannot afford to trade with a country that is still in the process of breaking up the United Kingdom.”
US President Donald Trump also said earlier this week that he is considering pulling out of the transatlantic trade deal.