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U.S. Dollar Declines amid Rising Sterling, Euro

The U.S. dollar retreated on Monday amid the rising British pound and euro, as investors cheered the news that the European Union's (EU) 27 member states have agreed that they will accept Britain's request for a Brexit extension until Jan. 31, 2020.

The announcement was made following a meeting of ambassadors of the 27 member states earlier on Monday. The official decision is expected to be formalized in the next two days.

In the upcoming extension period, the UK will have to appoint a European commissioner as it remains a member of the European Union until the new withdrawal date, with full rights and obligations.

The dollar index, which measures the greenback against six major peers, decreased 0.07 percent at 97.7638 in late trading.

In late New York trading, the euro rose to 1.1097 dollars from 1.1080 dollars in the previous session, and the British pound increased to 1.2855 dollars from 1.2829 U.S. dollars in the previous session. The Australian dollar increased to 0.6837 dollar from 0.6820 dollar.

The U.S. dollar bought 109.01 Japanese yen, higher than 108.68 Japanese yen of the previous session. The U.S. dollar was up to 0.9948 Swiss franc from 0.9941 Swiss franc, and it decreased to 1.3054 Canadian dollars from 1.3061 Canadian dollars.

(www.chinaview.cn 2019-10-29)