Cable Hit Five-Month High Amid Weak Greenback

Cable Hit Five-Month High Amid Weak Greenback

On Tuesday, the GBP/USD pair was 0.5% up, at $1.3175, approaching its five-month high, driven by the weakening of the US dollar. The experts’ are also cautious amid the Brexit talks, which began again, waiting for the outlook on the Sterling. 

The Dollar Index, the measurer of the greenback against six major currencies, touched a new low on Tuesday amid pale US economic data and the third continuous disappointment of falling yields. 

Meanwhile, the traders have an eye on the pound’s volatility too as the Britain and EU’s BREXIT talk restart. Britain left the European Union January this year, leaving them in a transition period until 31st December. The period will conclude at the end of 2020, whether a trade deal is not finalised or not.

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