Sterling fell today to a daily low against the US dollar at 1.2726, while hit the lowest level in a week against the euro, as EURGBP rose to 0.9059, in light of the uncertainty surrounding the process of Brexit, voting on Brexit deal is scheduled on January 15.
The United Kingdom may face early general elections if PM Theresa May's agreement with European Union leaders is rejected. British policy makers demanded government to prepare a plan B if the deal is rejected by the parliament.
Yesterday, the euro hit its biggest daily gain in more than six months, and exceeded levels of 1.15 for the first time since late October, following more caution in the minutes of FOMC about further rate hikes. EURUSD hit the highest level since October 17 at 1.1569.
The US dollar rose slightly today, supported by positive US jobless claims data, which shows the strength of the labor market in the United States, but is still close to a 3-month low of 95.03.
Crude oil prices fell slightly from their highest levels in almost a month and are currently trading at $ 51.60 a barrel. Prices have recorded gains for seven consecutive days in light of raising hopes that the United States and China will reach an agreement after three days of talks this week in Beijing.
