Pound sterling fluctuates, further Brexit vote ahead

Posted 15 March, 2019

The pound sterling trimmed gains against the US dollar and euro at the start of the European session, though later it managed to reverse. However, the currency maintains this-week positions, while the market is studying the results of the recent days given the Brexit vote in the UK Parliament. 

The US Dollar index decreased to 96.583.

The pound-to-US dollar exchange rate rose to $1.3270 today. Moreover, the British currency improved against the euro as well reaching EUR 1.1721.

The UK Prime Minister Theresa May reportedly plans to make another attempt to assure the officials to vote for her draft of the Brexit deal. For reference, May's previous two attempts failed to get a positive determination in the Parliament. At present, Theresa May is going to convince the pro-Brexit members of her political party that the proposed option appears to be the best one for them especially after no-deal Brexit vote failed.

May managed to win three voting in the middle of the week, which means passing of the draft to the Parliament. Thus, the UK Parliament is expected to approve the deal proposed by May but it can be time-lagged.

Meanwhile, no-deal Brexit is still a default variant of the divorce. As a result, the pound is likely to soar by 2% against the US dollar and 1.2% against the euro over this week.

The US dollar-to-yen rate stands at $111.66, showing some slackening. The Bank of Japan downgraded the economic outlook for 2019 and failed to comment on new measures that would be taken to support the economic growth in the country.

At the same time, the statement by US Finance Minister Steve Mnuchin affected risk demand. Specifically, he said that the summit between Donald Trump and Xi Jinping will not happen until April. Still, New Zealand and Australian dollars got stronger against their American counterpart.

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15 March, 2019 14:01

← Gatecoin exchange leaves business and goes into court-ordered liquidation

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Gatecoin exchange leaves business and goes into court-ordered liquidation

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