Sterling falls for first session in four versus dollar

2018-11-08 18:56:23 GMT (Economies.com)
Sterling falls for first session in four versus dollar

Sterling titled lower in American trade off October 17 highs against the greenback, following earlier data from the US and ahead of the Federal Reserve's policy decisions later today. 

 

As of 04:49 GMT, GBP/USD fell 0.15% to 1.3106, with an intraday low at 1.3088, and a high at 1.3150. 

 

UK Foreign Secretary Jeremy Hunt said a seven-day deadline for reaching a Brexit deal with the EU may be "pushing it", while still expressing confidence in reaching such a deal in a realistic time frame, with expected support from Parliament. 

 

Otherwise, UK Trade Secretary Liam Fox openly defied Prime Minister Theresa May on her Brexit plans, especially with regard to the join review mechanism discussed with the EU to work on the Irish borders dilemma. 

 

He asserted the “sovereign British government” should make its decision solely according the wishes of its voters. 

 

US Labor Data 

 

Earlier US data showed unemployment claims for the week ending Saturday down to 214 thousand as expected from 215K, while continuing claims for the week ending October 27 fell to 1.632 million from 1.631 million. 

 

The Federal Open Market Committee is wrapping up its policy meeting today, with analysts expecting no change in overnight interest rates at below 2.25% after increasing them by 25 basis points for the third time this year at the last meeting. 

 
 
 
  Symbol Last Change Chg.%
1.1339
0.0011
0.1002%
1.3019
0.0099
0.7632%
14.198
0.040
0.279%
56.322
-3.520
5.882%
66.19
0.04
0.06%
1212.945
3.475
0.287%
 
 
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