The Pound Sterling drifted higher during trade on Wednesday as higher risk assets recovered from earlier losses on the market's belief
The ECB's governing council member Klaas Knot spoke about the possibility of a hard Brexit, saying that there wouldn't be a difference between a no-deal Brexit on the 31st of January and one at the end of the year.
Global markets were searching for direction on Wednesday after Iran launched several missile attacks on American forces in Iraq.
Safe haven currencies eased back from earlier highs but FX traders remain wary that an armed conflict could soon break out between Iran and the United States.
According to data published by Eurostat, the Eurozone inflation levels accelerated in December, followed by higher retail sales than expected, signaling an increasing household demand.
Asian stock markets were broadly higher on Tuesday after reports that the recent tensions in the Middle East were tapering off and the threat of Iranian retaliation against the United States had abated.
In the first full trading week of the new year, the Pound Sterling rebounded during London trade, helped by an upwardly revised business survey.
Europe's Markit PMI manufacturing and services composite was revised higher to 50.9 in December of last year, signaling a stronger expansion in the Eurozone private sector since August 2019.
The South China Morning Post said, citing a source, that a Chinese trade delegation (led by the Vice Premier Liu He) is planning to travel to the United States on January 13 in order to sign the phase 1
The US Dollar continues to try to shake off its recent downtrend on the back of disappointing economic news out of the United Kingdom and the Eurozone.
During the Asian trading session, the US Dollar was able to regroup after being subjected to a losing streak that lasted through six trading sessions.
2019 was a turbulent year for many markets, especially as the U.S-Sino trade war but traders on edge and called into question how global trade would develop.
The People's Bank of China stated on Wednesday that it is diminishing the reserve requirements in order to increase liquidity and stimulate the economy.
Thanks to a weaker US Dollar, both the pound Sterling and the Euro edged higher in light trade in London.
A White House adviser said that the US-China trade deal signing is happening soon, but that the US President Donald Trump or the U.S. trade representative would need to confirm this detail.