The dollar halted a three-day losing streak against a basket of its trade-weighted rivals and pushed higher on Tuesday, though it dipped again slightly on Wednesday.
Sterling added to overnight gains and was trading at 1.2524 per dollar after Britain’s Supreme Court ruled that the government would need approval from Britain’s parliament before formally triggering the country’s departure from the European Union. It has bounced 4 percent over the last week.
“While some calm has come over the foreign exchange market in the past 18 hours, dealers are on a razor’s edge,” said Stephen Innes, senior trader at online FX platform OANDA in Singapore.
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