Pound Sterling consolidates against US Dollar as Senate advances stopgap bill
The Pound Sterling (GBP) consolidates near 1.3150 against the US Dollar (USD) during the European trading session on Monday. The GBP/USD pair wobbles as the US Dollar (USD) steadies despite the vote favoring the United States (US) government reopening has been approved in the Senate.
At the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades flat around 99.65.
Democrats agreed to support the approval of a stopgap bill with Republicans, which will fund certain government departments through January 30, in exchange for extending subsidies under the Affordable Care Act.
The scenario of US federal reopening would improve consumer sentiment, which has been hit badly in the past few weeks. On Friday, the preliminary Michigan Consumer Sentiment Index came in at 50.3 in November, the lowest figure in three and a half years.
Source : Fxstreet.com