Sterling rises as dollar fall apart, Brexit concerns ease

Economies.com
2019-10-31 19:26PM UTC

The British pound rose today against the US dollar, as the latter fell against most major currencies after the Federal Reserve's rate decision, amid an ease of the concerns over the no-deal Brexit.

 

The House of Commons agreed on Tuesday overwhelmingly to hold early election on December 12.

 

This came after the British parliament has rejected Prime Minister Boris Johnson's Brexit deal with Brussels previously.

 

Otherwise, the US Federal Reserve decided yesterday to cut the interest rate to between 1.75% and 1.50% for the third time this year.

 

The dollar index fell against a basket of currencies by 0.3% to 97.3 points as of 19:14 GMT, with an intraday high of 97.4 and a low of 97.2.

 

While by 19:25 GMT, GBP/USD rose by 0.4% to 1.2947, with a high of 1.2976 and a low of 1.2894.

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