The US dollar stopped falling during today's trading following five consecutive days of decline, and the political uncertainty boosted the dollar's rise due to the tariffs that entered into force today as well as the minutes of the Fed meeting released yesterday evening which confirmed the rate hike in September.
The dollar index hit a two-day high of 95.45 before retreating slightly to 95.30 today.
The pound fell as the government stepped up plans for Brexit with no deal, prompting fears among investors that Britain will leave without a deal. Some European officials expect to postpone the completion of the conditions for leaving and an emergency summit may be needed in November.
Sterling fell last week to its lowest level since June 2017 at 1.2660 levels before recovering and reaching the 1.2860 levels. The world's fifth largest economy is expected to be affected if it leaves EU without agreement.
The Turkish lira has fallen today as the latest tensions have continued, and have not subsided so far,. Turkey has accused the United States of launching an economic war against it. The Turkish lira has so far fallen 37% this year as a result of the crisis with the United States and the impact of the Turkish president's interventions on the central bank's policies.
