Home >News Updates >Financial News >Foreign Exchange
U.S. Dollar Weakens amid Rising Sterling

The U.S. Emblemdollar fell on Tuesday amid the rebounding British pound, as British Prime Minister Boris Johnson on Tuesday lost a key Brexit vote in the House of Commons, easing fears over a potential no-deal Brexit.

The British government was defeated by a margin of 27 votes as rebel lawmakers seize the control of the parliamentary agenda on Wednesday, which will allow a debate on a bill to block a no-deal Brexit.

The outcome of parliamentary vote is seen as a heavy blow to Johnson, who vowed to take his country out of the European Union (EU) on Oct. 31 with or without a deal, despite strong opposition from rebel Tory and opposition MPs.

With rebel alliance taking control of the parliamentary business, it is expected that a bill seeking to delay the UK's departure from the EU beyond Oct. 31 will be brought forward.

The dollar index, which measures the greenback against six major peers, was down 0.04 percent at 98.9947 in late trading.

In late New York trading, the euro fell to 1.0966 dollars from 1.0970 dollars in the previous session, and the British pound increased to 1.2085 dollars from 1.2067 U.S. dollars in the previous session. The Australian dollar increased to 0.6760 dollar from 0.6716 dollar.

The U.S. dollar bought 105.99 Japanese yen, lower than 106.19 Japanese yen of the previous session. The U.S. dollar fell to 0.9874 Swiss franc from 0.9904 Swiss franc, and it decreased to 1.3326 Canadian dollars from 1.3328 Canadian dollars.

(www.chinaview.cn 2019-09-04)