The U.S. Dollar recovered from a three-week low on Monday, as the Pound dived following the announcement that the United Kingdom Foreign Secretary Boris Johnson resigned from the government.
Meanwhile, the U.S. Dollar index rose from its lowest point since the 14th of June on Monday session and was up by 0.10 percent at 93.90.
Furthermore, In Today, the markets seem to be putting the trade dispute between the United States and China on the side and choosing instead to focus on economic data and the turmoil in the United Kingdom, Investors are eagerly anticipating the Gross Domestic Product of the U.K.
While, the Pound fell against the U.S. Dollar to as low as 1.31915 after Prime Minister Theresa May’s foreign minister and Brexit negotiator left in protest at her plans to keep close trade relations with the European Union, Investors still expect it is likely the Bank of England will hike the interest rates at its next policy meeting on August.
The single currency rose against the U.S. Dollar to one month high after the European Central Bank Governing Council member Ewald Nowotny said the bank could decide this month to end bond buying by the end of this year.
Regarding the safe havens, the USDJPY rose by 0.35 percent on Monday and opened Today’s session higher to trade at 111.05 at 7:00 GMT.and the Canadian Dollar moderately higher against its U.S. counterpart on Monday.
The AUDUSD was up by 0.4 percent to trade at 0.74653 at the close on Monday’s session. It is the highest level since June 15. And the Kiwi Dollar gained 0.06 percent to trade at 0.68362 NZDUSD at the close of the session on Monday.
In the Economic news, Donald Trump raised concerns that Beijing may be seeking to derail North Korea denuclearization efforts, though said he was confident Pyongyang leader Kim Jong UN would uphold his end of the deal. Graves said Monday’s gold price increase would likely be temporary.
Furthermore, China’s foreign exchange reserves unexpectedly raised 1.51 billion Dollars in June to 3.112 Trillion Dollar, despite expectations of a drop of 10.6 billion Dollars.