Market News

The Pound Sterling edged lower versus the US Dollar as Theresa May, the UK Prime Minister, appears to be facing a new challenge leadership challenge which may play a hand in her attempt to gain favorable terms for the Brexit.

The dollar took a break from its downtrend on Monday morning, posting modest gains against its primary trading partners, and sending the dollar index slightly higher, to 89.18 .DXY

This week will see a heavier and more serious news agenda than last week, with the key items of central bank input all concerning the U.S.A.

Brent crude futures hit new highs on Thursday, hitting over $71 per barrel before retreating slightly.

A sense of optimism regarding the UK economy and the hopes pinned on a favorable outcome for the Brexit negotiations have helped the Pound Sterling strengthen to a level not seen since the days before the EU referendum in late June 2016.

The U.S. dollar continued its decline during Thursday’s Asian trading session, falling against its primary trading partners and sending the dollar index down 0.38 percent to 88.90 .DXY.

The Pound Sterling struck a new post-Brexit peak against the US Dollar, extending the recent rally for the Pound.

The U.S. dollar fell even further during Wednesday’s London trading session after Treasury Secretary Steven Mnuchin commented at the World Economic Forum in Davos that the U.S. welcomes a low dollar as it can benefit the country.

The U.S. dollar hit fresh three-year lows during Wednesday’s Asian session, even after Jerome Powell was confirmed for a four-year term as the new Federal Reserve chair on Tuesday, in a move expected to continue the country’s growth trajectory.

The US Dollar has edged broadly higher despite growing worries that the US is on the verge of a worrying position on global trade.

After a three-day shutdown, U.S. legislators passed a measure that will provide funding for the U.S. government until February 8.

Most major currencies were higher against the US Dollar during London trading as investors ponder the possible duration of the US federal government closure.

Global stock markets struggled on Monday as the U.S. government shutdown extended into its third day after a scheduled vote for 1 a.m. EST was cancelled.

This week will see a heavier news agenda than last week, with the key items coming from the European and Japanese central bank, plus key economic data releases from the U.S., the U.K., and Canada.

The US Dollar was broadly softer in Asian trading as market players digest the possibility that the United States federal government could be on the verge of shutting down.