The pound has boosted above $1.30 today amid election speculation. The cable peaked to its highest since October 22nd, touching $1.2972 against the dollar.
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The pound remained supported at 1.2936 as investors gambled on less risk of a hard-Brexit as the election campaign is already underway.
FX experts and strategists are certainly ruling nothing out ahead of tomorrow’s crucial parliamentary vote on Britain’s deal to withdraw from Europe.
Just as news broke that the pound had rallied today following confirmation that a long-awaited Brexit deal had been reached, the cable reversed its gains.
The British pound weakened today, pulling back from its highest level against the dollar in almost five months after hopes of a Brexit breakthrough began to shatter.
Washington’s decision to impose visa bans on Chinese officials combined with adding further Chinese companies to a US-trade blacklist, has weighed on the slim hopes that both economies would potentially reach a truce at upcoming negotiations.
According to a report issued by the Institute for Fiscal Studies think-tank, if the UK should leave the EU without a transitional agreement in place, the budget deficit could rise to 4 per cent of gross domestic product.
As the Fed, the USD and the rest of the market are sitting tight in anticipation of today’s Non-Farm Payroll…
The US dollar managed to hold its near highs today after trade war concerns prevailed, encouraging investors to lean towards the greenback.