EU said it could hit with tariffs an 11-page list of U.S. imports worth $20 billion in a transatlantic aircraft subsidy dispute.

Expectations for volatility in the British pound plummeted to their lowest levels in more than a year. Which is the main reason for that? EU leaders and the British government last week announced Brexit would be delayed for up to six months.

European Union countries backed starting formal trade talks with the United States after months of delay due to French resistance.

Pressured by the stronger euro, the dollar index against a basket of six major currencies was down 0.2% at 96.991. Greenback gave up previous day’s gains.

The pound stumbled below $1.31 on Thursday after a Brexit delay of up to six months did not impress traders. The direction for the British currency cannot be predicted, though few expected wild price swings in the months ahead.