Record lows for the British pound, after Prime Minister Theresa May`s declarations
On Tuesday, the American dollar went low against major currencies, whilist the British Pound moved further in hitting new lows. This happened due to an uncertainty over if UK governments about Brexit.
The U.S. dollar index was down 0.18%, reaching 101.74. Taking into consideration that last week the dollar index hit its highest level since 2002, the situation is rather alarming.
The American dollar's appeal was build by the expectation of future high interest rates in 2017. The Federal Reserve raised interest rates in December of 2016 and showed that it will increase rates three more times this year.
The GBP/USD pair went low, at 1.2116, tumbling by 0.3%. As soon as the British Prime Minister Theresa May declared on Sunday that the United Kingdoms won't keep the same deals as for the European Union membership.
This made markets around the world to think about the fact that the United Kingdom won't give the chance to other countries to negotiate a future access to the European single market as the United Kingdom leaves the European Union.
With the British pound already at two-months lows against the euro, the GBP is now low against dollar too.
The EUR/USD pair went up 0.22%, reaching 1.0598.
The Greenback went down against the Yen. USD/JPY pair went down 0.24% to 115.71.
The markets in Japan were closed on Monday.
On Wednesday, Federal Reserve Chair Janet Yellen spoke about the interest rates and about the United States' economy
The gold prices dropped below $1.200
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