Brexit referendum set to be held on June, Pounds sterling under pressure

Safe haven currency The US dollar held steady against the other major currencies on Tuesday, as oil prices retreated after rallying sharply on Monday and as investors eyed the release of U.S. economic reports later in the day. US dollars roughly spike

Asian safe haven currency pairs USD/JPY declined 0.88% to 111.92. Oil prices began to decline once more on Tuesday as concerns over rising Iranian production following the end of international sanctions resurfaced.

Meanwhile, OPEC Secretary General Abdalla Salem El-Badri said on Monday that oil producers are still "feeling the water" over a possible deal to freeze production. To maintain the oil prices keep stable

Forex traders and Investors were eyeing the release of consumer confidence and home sales data due later in the day, for further indications on the strength of the economy after strong U.S. inflation data on Friday added to expectations for additional rate hikes by the Federal Reserve this year.

EUR weaker than before, EUR/USD slipped 0.15% to 1.1015 as European forex market opening on Tuesday, data showed that the German Ifo Business Climate Index fell to a a 14-month low of 105.7 in February from a reading of 107.3 in January, below forecasts for 106.7. European Union leader country Germany still on cloudy

From London forex market, safe haven currency the US dollar was higher against the pound and the Swiss franc, with GBP/USD down 0.25% at 1.4114, not far from Monday's three-year low of 1.4057, and was lower against the Swiss franc, with USD/CHF retreating 0.58% to 0.9938.

Pounds Sterling remained under pressure amid ongoing discussions over a posssible British exit from the European Union, with a referendum now set to be held in June. Brexit referendum will be the biggest event in European economic outlook

Source : London forex market, Investing, European forex market, Asian forex market