The U.S. dollar has stabilized near a 1 and 1/2 year high of 96.80 at the moment, following the Federal Reserve's interest rate unchanged at 2.25% last night, with the Fed hinting a rate hike at a meeting next month.
Despite more than expected U.S. producer price inflation, which rose by the fastest pace in six years, with PPI up by 0.6% in October against expectations of a 0.3% rise, but we did not see a significant rise in the dollar.
The pound fell to its lowest level since the beginning of the week at 1.2988, as optimism about a deal on Brexit faded. The growth data for the British economy was in line with expectations as GDP rose by 0.6% in the third quarter of 2018.
The increase in supply and investors' concern about the impact on demand of the global economic slowdown and trade tensions pushed oil prices tumbling to its lowest levels in several months as U.S. crude continued its decline for the 10th consecutive day, hitting its lowest level since February 14 at $ 59.22 a barrel. Brent crude fell fall below $ 70 for the first time since early April.
