The British pound fell against the U.S. dollar on Monday in Asia despite renewed Brexit hopes. The greenback inched up amid positive trade progress with China.
The GBP/USD pair lost 0.3% to 1.2614 1:25 AM ET (05:25 GMT). The pound rose on Friday amid signs of a possible agreement on the Irish border problem.
Reports suggested that the U.K. had conceded that the province of Northern Ireland would remain in the EU customs area immediately after Brexit – a move that would satisfy EU concerns about the integrity of its border.
U.K. Prime Minister Boris Johnson said he thought there was a way forward for a Brexit deal with the European Union, adding that “there is work to be done.”
The U.S. dollar index inched up 0.1% to 98.123. According to the partial trade deal Washington and Beijing reached late last week, Beijing will make large agricultural purchases worth as much as $50 billion and take steps on intellectual property, financial services and the yuan.
Source : Investing.com