The British pound recovered from a two-week low of 1.2722 which it reached yesterday, following British Prime Minister Theresa May's insistence on the agreement, despite strong opposition, to reach the 1.2870 level at the moment.
The British pound, which had its biggest daily decline in two years against the euro and the US dollar, suffered after a number of ministers who opposed the pact resigned yesterday.
The euro also recovered strongly against US dollar approaching the 1.14 levels again, but remains negative as the pair has been trading in a bearish channel since late September. However, the high hopes for action between Italy and the EU on the 2019 budget, as well as the stability of inflation at a six-year high of 2.2% in October helped the single currency picking up.
For the third day in a row, oil prices continue to recover from their lowest levels in a year to reach $ 57.50 a barrel as OPEC and its partners are expected to agree to cut production at next month's meeting amid fears of oversupply amid weakening global demand in light of the economic slowdown.
