Possible New Brexit Plan Helps Sterling Gain – 24 January, 2019

A possible turnaround in Prime Minister Theresa May’s Brexit plan backed by Northern Ireland’s Democratic Unionist Party helped sterling reach a two month high. After a report by a news paper about the rumored deal, sterling jumped to an eleven week high, climbing 0.4 percent to $1.3114 for a total of 1.8 percent this week. The pound also gained 0.25 percent against the euro to 0.8631 and 0.35 percent versus the Australian dollar to 1.8478. Against six major currencies, the dollar index dropped 0.19 percent to 96.41, caught by the pressure of global and local economic concerns. The dollar did manage to gain 0.16 percent to 109.8.