The pound started European trading session by slipping near a one-month low amid a fall in the stock market due to the implementation of the latest nationwide restrictions that dampened prospects in the UK economic recovery.
Prime Minister Boris Johnson on Saturday announced stricter sanctions that will take effect until December 2 and cabinet minister Michael Gove's statement that the closure may be extended further has further weakened pound currency trading.
Market expectations have now been placed on negotiations for a Brexit trade agreement to be resumed today.
Discussions that continue to this day show signs that both parties are committed to avoiding an agreement without an agreement and seeking to sign an agreement before the Brexit transition period ends later this year.
The pound sterling, however, failed to take advantage of the upside opportunity by taking the approach of waiting for the latest developments on the negotiations.
Meanwhile, the US dollar continued to maintain its strengthening momentum with the dollar index trading stronger against a basket of major currencies at 94.18 ahead of the upcoming US election tomorrow.
