The Greenback strengthened against most major rivals overnight especially against the Pound Sterling which briefly fell to a 20-month low of 1.2507. The Pound Sterling tumbled to its weakest level since April 2017 after UK Prime Minister Theresa May pulled a parliamentary vote on her Brexit deal with the European Union, panicking investors about deepening political uncertainty in the United Kingdom.
On the data front yesterday in the United states we saw the release of US JOLTS Job Opening report which came in at 7.079M, surpassing expectations and the previous month figures. Looking ahead today and we will see the release of Producer Price Index (PPI) for the month of November. However, all eyes will continue to be on the Brexit turmoil.
Global equities and the U.S. dollar have been recently been put under pressure by expectations the Federal Reserve may be closer to the end of its three-year rate-hike cycle. Overnight however the Dow closed higher at 24,423.26 +34.31 (+0.14%) and S&P 500 at 2,637.57 +4.49 (+0.17%). The U.S dollar is also stronger this morning when valued against the Aussie dollar with the AUD/USD pair currently trading at 0.7189 -0.0026 (-0.36%).