XE Market Analysis: The US Dollar Rebounds While the Pound Continues to Search for a New Bottom

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OVERVIEW

  • The Dollar Index made a comeback after the greenback crashed to multi-week lows against the G-10 currencies

  • GBP/USD is down by 0.5% after Bank of England votes to keep its rate unchanged

  • NYMEX WTI moves above the psychological price of $60 a barrel.

HIGHLIGHT

The MPC has decided to maintain its Bank Rate amidst the growing uncertainty over Brexit. With eight days to go for the exit date, the MPs rejected Theresa May’s Withdrawal Plan twice.