European stocks closed higher on Friday, with investors returning to risk assets as fears over the U.S.-China trade battle receded.
The dollar hit its highest level in two years and the yen rose half a percent on Thursday as economic and political uncertainties swept through Europe and Asia, pinning down the euro and the yuan.
Brexit pressures are building again as a change of U.K. prime minister looks all but done.
British Prime Minister Theresa May could announce her resignation in the next few days, according to U.K. media reports.
European markets traded sharply lower Thursday amid ongoing U.S.-China trade concerns.
Gold prices jumped 1 percent on Thursday as the U.S. dollar pulled back from a two-year peak scaled earlier in the session and as global equities slid on the escalating Sino-U.S. trade tensions.
Andrea Leadsom said she could not announce the new Withdrawal Agreement Bill in parliament on Thursday as she did not believe in it.
The U.S. dollar held near a one-month high on Wednesday amid heightened trade tensions between the United States and China and ahead of the release of Federal Reserve meeting minutes which may provide more clues on why the central bank stood pat on interest rates earlier this month.
May outlined her new Brexit proposals which are being voted on by politicians next month.
The bank forecasts the Conservative Party member will then trigger a general election to bolster its Brexit mandate.
The dollar rose on Friday as concern about next weeks European parliamentary elections dented demand for the euro, while the British pound dropped to a four-month low on worries about Britains exit from the European Union.
The euro dropped to its lowest level in more than a week against the dollar on Thursday on concerns about next week's European parliamentary elections, while the dollar was buoyed by ongoing U.S.-China trade tensions.
Policymakers have been left in limbo when it comes to implementing their plan for limited and gradual rate hikes over the coming months.
Huawei has faced mounting political pressure as the U.S. asks other countries to block the Chinese firm from being involved in 5G networks.
The U.K. government will reportedly allow Huawei to provide "non-core" technology for 5G wireless networks, defying U.S. demands for a blanket ban on the Chinese tech giant.
Jonathan Portes of King's College London discusses Brexit and the political future of U.K. Prime Minister Theresa May.
Disgruntled members of her own party are looking at ways to replace her.
There is a still a concern that Britain may leave the European Union without a deal to smooth the way, the bloc's chief executive said on Saturday.
A motion will be brought before the House of Commons on the inclusion of a customs union.
Britain's departure from the European Union (EU) could paralyse law-making in Brussels for at least 5 years.