Sterling rising strongly supported by several factors

1 Nov 2018 05:46 PM

The British pound rose today after reports that a financial services agreement was imminent following Britain's exit from the European Union, as well as the Bank of England's advice to raise interest rates in the future if the EU emerged smoothly.

Sterling hit its highest level since October 24 at 1.2953 against the US dollar, and sterling rose more than 0.5% against the euro, bringing the euro to its lowest level since October 23 against sterling.

The Australian dollar rose to a one-month high of 0.7209 today, following a widening trade surplus in September to $ 3.02 billion, the highest since March.

Markets are looking ahead to US employment data, which is expected to continue to show the US economy, especially the labor market.

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