The British Pound rose today to its highest level in a week before erasing its gains as markets awaited the British Parliament's vote on the Brexit agreement reached by British Prime Minister Theresa May with European Union leaders.
Sterling hit its highest level since December 31 at 1.2797 before pulling back to the 1.2740 levels at the moment near an uptrend line on the 30-minute time frame.
Markets are in a state of anxiety if the agreement is not passed unless Theresa May is able to convince the opposition. Parliament will vote on the agreement on Jan. 15.
The euro also fell after the euro zone economy showed some signs of a slowdown. The fall in German industrial production for the third month in a row helped the single currency to fall; EURUSD fell to its lowest level since yesterday at 1.1422.
Markets are awaiting tomorrow a number of important economic events, with US President Donald Trump scheduled to speak on national border security. Also, the Canadian Interest Rate Decision is scheduled to be released and it is widely expected that BoC to keep interest rates unchanged at 1.75%.
The Canadian dollar hit its highest level against the US counterpart for almost a month, as the USDCAD fell strongly to reach the level of 1.3266 after it was close to reach levels of 1.38.
