Brexit Steps Help Steady The Euro And Sterling – 22 November, 2018

A trade draft between the European Union and the United Kingdom to make the process as smooth as possible helped the euro and the pound steady versus the dollar. The euro traded slightly higher hoping to extend their overnight gains from 0.2 percent to 0.8 percent. The dollar index was weaker at 96.5, its drop partially aided by the strength of the euro and sterling, and partially due to concerns over the pace of scheduled interest rate hikes by the U.S. central bank. The yen and the Australian dollar remained relatively unchanged with the yen trading at 112.96 and the Australian dollar trading at $0.7251.