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Pound Crashes As Parliament Resumes Amid Brexit Uncertainty

The pound today crashed against the US dollar amid heightened Brexit uncertainty after the UK Parliament resumed its sessions following yesterday’s Supreme Court decision. The GBP/USD currency pair fell by over 130 pips as investors expressed their lack of confidence in the UK’s future by dumping the Sterling pound.

Pound Rallies on UK Supreme Court Decision and Brexit Optimism

The British pound today rallied higher in the early London session after the UK Supreme Court ruled that the proroguing of the UK Parliament was unlawful. The decision provided a massive boost to the GBP/USD currency pair as investors became hopeful that a hard Brexit could be avoided if Parliamentary sessions resume.

US Dollar Declines Against Yen on Uncertainty Surrounding Congressional Support for Trump

The US dollar declined against the Japanese yen on Monday as investors worried that President Donald Trump might not have enough support in Congress to fulfill his economic agenda.

GBP/USD Rallies Ahead of UK Supreme Court Ruling on Article 50

The GBP/USD opened the week on a major rally boosted by positive market sentiment towards the British pound as markets await tomorrow’s ruling by the UK Supreme Court on whether Theresa May needs the approval of parliament to trigger article 50. The strong rally in the currency pair was also triggered by negative sentiment towards the US dollar after Donald Trump assumed office on Friday.

US Dollar Gains on Risk Aversion

US dollar is on the rise today, thanks to risk aversion. With concerns in Europe, and uncertainty about the impact of the US Supreme Court ruling on health care reform, the greenback is in demand as a safe haven.

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