Sterling falls off late 2018 highs against dollar

Economies.com
2019-01-08 17:43PM UTC

Sterling fell in American trade off late December highs against dollar, following earlier data from Britain and the US today. 

 

As of 05:14 GMT, GBP/USD shed 0.49% to 1.2715, with an intraday low at 1.2797, and the highest since late 2018 at 1.2711. 

 

Earlier UK data showed the Halifax House Price Index up 1.2% in December, compared to a 0.7% drop in November, while beating estimates of a 0.5% increase. 

 

UK Prime Minister Theresa May spokesman James Slack noted in earlier remarks the government might suggest a Parliament vote on Brexit on January 15, adding that May is still working on getting guarantees from the EU for the Backstop plan. 

 

Brexit minister Stephen Barclay said there would be challenges on extending the 50 article, which puts the deadline for Brexit in two years from approaching the EU on the issue.  

 

Barclay said there were discussions on a possible delay for the Brexit deadline, but the UK will end up leaving the union on March 29, with Parliament voting next week. 

 

Otherwise, Irish Prime Minister Leo Varadkar said the EU plans to give Britain its special guarantees for the Backstop plan before the Brexit vote, with articles focused on Irish borders to reassure Parliament. 

 

Otherwise, earlier US data showed an index tracking job opportunities fell to 6.89 million from 7.13 million in October, missing estimates of 7.07 million, while another tracking consumer crediting fell to $17.3 billion from $25.4 billion in October. 

 

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