Sterling steadies against dollar

The British pound stabilized against the US today, amid anticipation for further news on the Brexit, after the release positive UK's growth data earlier today.

The German Chancellor, Angela Merkel, expressed her confidence in the British parliament's ability to pass the Brexit deal that was secured by British Prime Minister Boris Johnson with the European Union for a flexible exit.

Merkel urged all sides to be more flexible as fulfilling a satisfying deal for London and Brussels will be in everyone's interest.

Otherwise, the US President Donald Trump criticized China and accused it for cheating in its trade practices that have hurt the US economy, albeit he confirmed that the first phase of the final trade deal with China will be very soon.

The initial reading of the UK GDP yesterday showed growth by 0.3% during the third quarter vs a contraction by 0.2% in the second quarter.

GBP/USD held at 1.2848 as of 21:05 GMT, with an intraday high of 1.2847 and a low of 1.2815.