Forex – Pound Edges Up as May Seeks Another Brexit Delay; U.S. Dollar Flat


© Reuters.

Investing.com – The British pound inched up on Tuesday in Asia as U.K. Prime Minister Theresa May prepared to meet with German Chancellor Angela Merkel and French President Emmanuel Macron later in the day before setting out the case for another Brexit delay at a EU summit on Wednesday.

The pair was up 0.1% to 1.3078 by 11:30 PM ET (03:30 GMT).

The European Union has to decide at the summit whether it’s willing to push back the deadline for the U.K.’s departure beyond the default date of Friday.

Markets widely expect the EU to offer some sort of extension as it prefers to avoid a “no-deal Brexit” scenario that would badly disrupt the Irish economy.

Meanwhile, the that tracks the greenback against a basket of other currencies was little changed at 96.613.

A broadly positive U.S. on Friday added to the belief that the Federal Reserve won’t raise interest rates this year and may even cut them.

data that came out overnight were largely in line with expectations and did little to ease worries about a slowdown in the economy.

The was unchanged at 6.7138 as traders wait for further trade news between the U.S. and China.

Clete Willems, a top White House trade official, told Reuters in an interview that Washington is “not satisfied yet” about certain details in trade negotiations with China.

“We’re making progress on a range of things, and there’s some stuff where we’re not satisfied yet,” Willems said. “It should be a good sign for people that we’re not rushing into this we want to get it right and we need to nail down specifics.”

The two sides are set to resume trade discussions remotely this week.

The pair was down 0.1% to 111.36.

The and the pair both rose 0.2% to 0.7135 and 0.6746 respectively.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Comments

comments