Eyes on Brexit developments – With the latest developments reviving hopes of a Brexit deal, the GBP/USD pair gained traction during the European trading hours on Monday and caused the Greenback to face a renewed selling pressure.
The US Dollar Index, which lost 1.2% last week, staged a technical rebound earlier in the day to 97.40 but changed its direction ahead of the American session. At the moment, the index is at 97.20.
The US economic docket won’t be featuring any significant macroeconomic data releases and investors are likely to remain focused on the developments surrounding Brexit and react to changes in risk perception.
