Sterling rises after Brexit delay

The British pound rose against the US dollar during the trading sessions today, buoyed by the European Union's approval of extending the Brexit deadline by additional 3 months.

The European Union agreed on Britain's request to delay the deadline for its withdrawal from the EU (Brexit) for another 3 months, until January 31, to provide to the UK more time to prepare for a joint exit deal.

Bearing in mind that the British Prime Minister Boris Johnson failed to pass the recent deal with Brussels earlier this month, and called for an early general election on Dec.12, pending the parliament ratification.

The new Brexit deadline extension is the third of its kind, as the current one expires on Thursday, as it was granted to the former British PM Theresa May.

As of 19:26 GMT, GBP/USD rose by 0.3% to 1.2866, with a session-high of 1.2876 and a low of 1.2809.