The British pound collapsed against major currencies as Dominic Raab resigned from being the UK Brexit Secretary. His main reason for resignation is that he cannot support an indefinite backstop arrangement.
November 15, 2018
The British pound strengthened against the United States Dollar as the hopes of a Brexit deal improved investors risk appetite. The UK Cabinet approved Theresa May's draft Brexit plan as expected.
November 14, 2018
The British pound gained more than one percent against the United States dollar and the Japanese Yen, as Britain and the European Union reached a preliminary Brexit text. The GBPUSD reached a high of $1.3047, and the GBPJPY rose to a high of 148.72.
November 13, 2018
The dollar index which measures the greenback against a basket of major currencies climbed to a sixteen-month high of 97.68, benefiting from safe-haven flows. The growing risks from Italy's budget and Brexit deal are sparking flows to the greenback.
November 12, 2018
The dollar index which measures the greenback against a basket of currencies climbed to a sixteen-month high of 97.40 ahead of the European trading session. The dollar advanced last week following the results of the US midterm elections, and the confirmation of further monetary policy tightening by the Federal Reserve.