The British pound rose on Monday as investors prepared for parliament to vote on a series of Brexit options, with some hoping that the current uncertainty will end in a softer Brexit than Prime Minister Theresa May's defeated withdrawal agreement.
May's deal was voted down for a third time by lawmakers on Friday, sending sterling plunging to below $1.30.
But the British currency has held at or above that level since, suggesting some investors have priced out the prospect of Britain crashing out of the European Union without a deal and instead expect a long delay to the exit or Brexit to emerge eventually where closer ties are maintained to the trading bloc.
Sterling rose 0.3 percent to $1.3076 by 08:20 GMT, while the pound was flat at 86.035 pence per euro.
Source : Reuters
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US Dollar Index flat around 98.20, focus on trade, Jackson Hole
Monday, 19 August 2019 13:08 WIB
The Greenback, in terms of the US Dollar Index (DXY), is alternating gains with losses within a narrow range at the beginning of the week around the 98.20 region.
The upside momentum in the index is losing some traction on Monday, although the...