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The Pound Sterling is holding off the recently struck peaks against both the US Dollar and the Euro as traders await today’s crucial Brexit vote in Parliament.

All major Asian stock indexes were trading lower on Tuesday, following a down day on Wall Street that was prompted by turbulence in both the U.S. and Chinese markets.

The Pound Sterling was under pressure during London trade today after posting the largest single week’s gain in more than a year last year.

It’ll be a busy week for U.S. policymakers, as the Federal Reserve gears up for its first meeting of 2019 on January 29-30, and President Trump’s advisors continue to work to resolving issues that have caused the longest government shutdown in U.S. history.

This week will see some key activity, with central bank input from the U.S. Federal Reserve and U.S. Non-Farm Payrolls data due.

In early trade in Asia, the Pound Sterling rallied and struck a 2-month peak versus the US Dollar after it was reported that the Prime Minister’s Brexit deal has obtained the backing of the Democratic Unionist Party (DUP) of Northern Ireland.

While it has now lost some momentum, the Pound Sterling had earlier struck an 11-week peak during overnight trading on renewed optimism that a no-deal Brexit can be avoided.

Global markets continued to look for direction on Thursday as investor uncertainty about the state of the global economy created opportunity for both concern and optimism.

With possible backing from the Labor Party for the latest amendment to the ongoing Brexit saga, the Pound Sterling inched higher and rose above the $1.30 level during London trade.