Sterling rises against dollar for second consecutive day

Sterling rose against US dollar today for the second straight day amid calm trading in global markets, as traders cautiously monitor developments the bond markets.

The forex and stock markets fell under the pressure of the global recession mounting concerns during this week.

The yield curve inverted in both the UK and US, which has raised fears of a near recession in the two countries, which have happen before in previous recessions.

While the markets are anticipating Boris Johnson's government direction of the Brexit file, as Johnson confirmed that Britain will exit the EU as scheduled on October 31st, with or without a deal.

By 19:16 GMT, GBP/USD rose by 0.5% to $1.215, with a high of $1.2176 and a low of $1.2078.