A Possible Brexit Delay Pushes Sterling Higher – 26 February, 2019

Prime Minister Theresa May’s consideration for delaying the Brexit deadline caused sterling to hit a three week high against the dollar. The pound climbed 0.4 percent to $1.3143, just below its high of $1.3149 reached at the end of January. Should the deal be delayed a few months, the UK would have no E.U. Parliamentary representation until a resolution is reached. Against a basket of major rivals, the dollar index was 0.1 percent lower at 96.329. After a U.S. S&P slip in asian trading, the safe-haven yen rose to 110.80 per dollar, while the offshore yuan dipped 0.1 percent to 6.6912 per dollar, having reached a mid summer high on Monday of 6.6737. After advancing 0.2 percent on Monday, the euro was up $1.1363.