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Pound at week-high, dollar sinks as risk-on mood cautiously holds


Thursday, 5 September 2019 08:44 WIB

PoundsterlingGBP/USD


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The British pound hovered around a one-week high on Thursday as another parliamentary defeat for Prime Minister Boris Johnson made investors optimistic that a no-deal Brexit could be avoided, while a broader risk-on mood held back the dollar.

The dollar fell against most major currencies, though gained on the safe-haven yen, as the UK parliamentary vote, positive economic data in the United States and China and hopes for a de-escalation in Hong Kong’s political crisis lured investors to riskier assets.

The pound was at $1.2242, after its best day against the dollar in more than five months, and the euro also climbed 0.6% to $1.1033. Against a basket of currencies the dollar hit a one-week low of 98.390.

Source: Reuters


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