The British pound climbed versus the dollar by 0.2% trading at $1.3406; against the single currency, it went higher by 0.1 % and settled at 88.37 pence.
Investors and analysts currently focus on the next phase of the ongoing Brexit negotiations between Britain and the EU. The uncertainty that engulfs the negotiations limited the pound’s gains, which potentially could have been higher.
Thursday, prices of oil kept stable after the Energy Information Administration reported a decrease in the U.S. crude inventories referring to a slump of 6.5 million barrels in the week ending on December 15. In addition, U.S. strategic petroleum Reserves fell to approximately 436 million barrels and are currently considered at their lowest point since October 15, 2017.
United States West Texas Intermediate crude futures were traded at $58.05 per barrel, which is 1% or 3 cents lower than their previous close. Brent futures, the international benchmark, were seen trading at $64.58 per barrel, which is 1% or 8 cents lower compared to their last settlement.
As to gold, the yellow metal was given a boost by a flat dollar. Investors took the safer path and preferred to go long on haven assets. Gold futures for February delivery climbed up by 0.4% closing at $1 269.60. In the course of the week, the shining commodity rose by 2%.