Brexit Draft Helps Euro And Sterling Gain – 13 November, 2018

After a year of negotiations, Britain has a Brexit plan draft from the European Union, which gave investors confidence and cause both the Euro and the Pound to rise, which in turn dropped the dollar. The dollar index dropped from its 16 month high of 97.69 hit this week by 0.28 percent to 97.03. The pound last traded at $1.3006, gaining 0.25 percent. The euro’s gains were limited due to Italy’s budget proposals, but managed to rose by 0.14 percent to $1.1305. Against the pound, the euro hit a 6 1/2 month low of 0.8653. The dollar gained 0.11 percent versus the yen, trading at 113.93 as the yen hit a six week low of 114.20.