Dollar Gains Against Major Peers – 22 October, 2018

Investors turned towards the dollar helping it gain as they moved away from sterling due to Brexit uncertainties and the euro due to Italy’s spending budget. With just five months before England’s scheduled divorce from the European Union, Prime Minister Theresa May still has yet to finalize a plan for the Irish border. Sterling lost 0.83 percent to $1.2965, its steepest fall since the end of September. The yen was last trading at 112.71 after falling to an 8 day low of 112.88. The dollar index gained against six major peers last stood at 96.02, slightly below the high of 96.15 hit on October 9. The Australian dollar fell 0.18 percent and 0.57 the day before to 0.7065.