Sterling is recovering but still under pressure Amid Brexit Worries

The pound recovered against the US dollar on Tuesday in Asia, but was under pressure after British House of Commons spokesman John Bercow refused to vote for Johnson’s agreement again.

The GBP / USD pair managed to gain 0.2% to 1.2982 at 12:44 AM ET (04:44 GMT).

Johnson concluded an agreement with the European Union regulating the Brexit on 31 October. But the British parliament passed legislation on Saturday, forcing Johnson to seek an additional EU deadline. Johnson said he would rather die than demand that deadline.

Reports this week revolve around a desire for progress to pass Brexit-related laws by parliament.

The head of Australia’s National Bank and head of currency strategy at Attrill told Reuters: “While the markets did not see the conditions for a diversion away from the optimism that prevailed last week, the markets are not ready to rise sterling to the next level.

The US dollar index is tracking a basket of 6 currencies, and has not changed much at 97.023.

The trade dispute between China and the United States is now in a favorable environment, with high hopes for a solution.

US President Donald Trump said on Monday that China has begun buying US agricultural products and is working toward ending the trade war, while the president’s economic adviser said tariff increases on China could be abolished in December or the parties made progress.