The pound is pushing higher

Good morning!

The British pound is pushing higher as markets continue to recover from the post-Brexit hangover.

The currency is up by 0.7% at 1.3440 against the dollar as of 7:29 a.m. ET.

In other UK news, Citi research’s Tina Fordham and Tiia Lehto suggested that Britain won’t leave the European Union until at least 2019.

As for the rest of the world, here’s the scoreboard:

  • The Norwegian krone is stronger by 0.5% at 8.4319 per dollar as the possibility of a strike at various Norwegian oil and gas fields has pushed up oil prices for a second day. Brent crude is currently up by 0.7% to $49.95 per barrel.
  • The US dollar index is weaker by 0.4% at 95.90 ahead of several data points. Personal income and spending will be released at 8:30 a.m. ET and pending home sales will be announced at 10 a.m. ET.
  • The Japanese yen is stronger by 0.2% at 102.6 per dollar.
  • The euro is little changed at 1.1077 against the US dollar.

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