The pound is trading near a two-month high
The British pound gained against many of the world's currencies during the European session on Thursday, and resumed its gains against the US dollar, which ended yesterday, to trade near the two-month high recorded earlier in the day. The British economy is expected to release later in the day significant data on retail sales during August that will provide further evidence on the health and recovery of the royal economy. During the third quarter of this year.
At 0710 GMT the pound gained against the US dollar by 0.15% to trade at $ 1.3163 from today's opening at $ 1.3143. The pair recorded a high of $ 1.3166 and a low of $ 1.3134.
Over the course of yesterday's trading, the pound hit losses against the US dollar by about 0.1% due to the return of fears to the markets to the failure of Britain's negotiations with the European Union on the issue of exit, comes the pound sterling after rising to a two-month high of $ 1.3214 recorded earlier in yesterday's trading Supported by strong UK inflation data for the month of August.
British Prime Minister Teresa Mae has rejected a European Union offer to resolve the Irish border crisis and the leaders of Lithuania and Slovakia have said that there has been no significant progress in negotiations for Britain's secession from the European Union and the Irish border issue, the Times reported yesterday in a report. Those remarks were negative to investors and concerns were once again on the market for secession negotiations.
The British economy is expected to release later in the day significant data on retail sales in August, which will provide further evidence on the health of the British economy in the second quarter of this year, and forecasts that sales will fall by 0.2% compared to July Which rose 0.7%.
US Dollar Falls for Second Day in a row
The US dollar fell against most major currencies on Thursday, extending losses for the second day in a row, touching a eight-week low.
The dollar index, which tracks the performance of the US dollar against the six major currencies, fell 0.15% to trade at a level of 93.97 points, not far from a two-month low of 93.88 points.
Global markets seem to ignore fears of a US-China trade war escalating. The United States on Monday imposed a tariff of 10 percent on Chinese goods worth $ 200 billion before rising to 25 percent by the end of the year. China responded by setting a tariff of US $ 60 billion on US goods.