U.S Dollar gained as sterling pound and euro fell on Northern Ireland border.

U.S Dollar gained as sterling pound and euro fell on Northern Ireland border.

October 23, 2018 Off By Yhumi Tsun

The U.S Dollar gained lost ground and then some on Monday, as the sterling pound and euro fell on news that negotiations regarding Northern Ireland remain in the air, and the political uncertainty over Italy’s budget.

The U.S Dollar index advanced versus a basket of six major currencies on Monday to end the session at 96.02.

Over in Europe, The Euro traded regained lost ground against the greenback on Monday’s session to close at 1.1464 EURUSD.

The euro was pressured lower as investors kept an eye on fresh political uncertainty in Europe regarding Italy’s spending plans.

Additionally, On Friday, Moody’s Rating agency downgraded Italy’s credit rating, although the rating agency unexpectedly kept the outlook at stable.

Over in the United Kingdom, the Great British Pound also lost ground to its American counterpart to end the trading session at 1.2965.

On Brexit Front, On Monday, British Prime Minister Theresa said that 95 percent of Britain’s Brexit deal has been agreed. However, the prime minister reiterated her opposition to an EU proposal for the Irish border,

With Britain’s scheduled divorce with the European Union just over five months away, talks have reached a stalemate over a disagreement on the so-called Northern Irish “backstop,”

The “backstop” is essentially an insurance policy to ensure there will be no return to a hard border on the island of Ireland if a future trading relationship is not agreed upon in time.

In terms of Safe-havens, the greenback advanced against the Japanese yen to close the session at 112.82 USDJPY, the U.S Dollar was nearly unchanged versus to finish the session 0.9959 USDCHF.

The precious metal Gold traded at on negative levels against the greenback to close at 1221.80 XAUUSD per ounce.

In terms of commodity-currencies, the greenback closed at near constant levels against the loonie dollar to end the session at 1.3100 USDCAD,

Meanwhile, in Asia, the Aussie and Kiwi dollar were both outmuscled by against the Greenback to trade at 0.7075 AUDUSD and 0.6552 NZDUSD at the close, respectively.

In Cryptocurrencies, Bitcoin, Ethereum and Litecoin were all tradings at slightly lower levels against the Greenback to settle at 6384.41 BTCUSD, 198.96 ETHUSD, and 49.82 LTCUSD.