The British pound fell nearly half a percent on Monday as concern revived that Britain will struggle to secure a deal on the terms of its departure from the European Union.
The pound fell to a three-year low below $1.20 earlier this month, then soared more than 4%. Most of the gains came last week, after parliament voted to force Prime Minister Boris Johnson to seek an extension to the current Oct. 31 deadline for leaving the EU if no agreement has been reached.
But no solution is in sight and weekend rhetoric from both Britain and the EU suggests their positions remain far apart.
Market focus is shifting to a meeting between Johnson and European Commission chief Jean-Claude Juncker today.
On Monday, the pound fell 0.4% to 1.2427 after briefly popping above $1.25 in early Asian trading, its highest in nearly two months.
16 Oct 2019 05:36 PM
The Indian rupee ended higher against the dollar for the first time in three sessions, on custodian greenback inflows that eroded an early
16 Oct 2019 03:19 PM
Britain's currency weakened further on Wednesday while stocks in London extended their losses, following a report that talks to reach a Brexit deal with the European Union are near to collapse.
16 Oct 2019 11:58 AM
The yen is currently trading near 108.70 to a dollar, representing 0.15% gains on the day. The dollar has come under pressure, possibly due to the Sino-U.S. political friction and the haven demand for the anti-risk Yen.
16 Oct 2019 11:42 AM
Indian equity benchmarks moved higher on Wednesday, as investors looked towards a rise in September-quarter earnings for companies after the government's corporate tax cut, amid a rise in inflation and hopes of further rate cuts from the central bank
16 Oct 2019 11:31 AM
China's yuan fell against the dollar on Wednesday, erasing gains made following progress in Sino-U.S. trade talks and briefly falling past a key threshold, as a much weaker midpoint set by the central bank dented sentiment.
16 Oct 2019 10:57 AM
Gold traded lower on Tuesday as market participants awaited clarity on U.S.-China trade talks and as earnings season starts on a positive note. Gold for