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U.S. dollar rallies as Brexit plan drags sterling, euro

Source: Xinhua| 2018-12-01 05:36:40|Editor: huaxia
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NEW YORK, Nov. 30 (Xinhua) -- The U.S. dollar rose against other major currencies in late trading on Friday, as the sterling and euro bore downward pressure due to lingering uncertainty over a potential UK-EU Brexit deal.

Investors grew more cautious after British Prime Minister Theresa May said on Thursday that she would continue to win over a deeply divided UK parliament in a general vote on Dec. 11 for her Brexit plan agreed by Brussel on Sunday.

The plan aims to secure trade ties between Britain and the bloc after their divorce scheduled for March next year. Yet May did not devise an alternative backup solution if the planned deal fail to get through the vote, which analysts warned would cause a slump in the sterling.

In late New York trading, the euro was down to 1.1308 dollars from 1.1388 dollars in the previous session, and the British pound was down to 1.2742 dollars from 1.2782 U.S. dollars in the previous session. The Australian dollar decreased to 0.7302 dollar from 0.7319 dollar.

The U.S. dollar bought 113.60 Japanese yen, higher than 113.43 Japanese yen of the previous session. The U.S. dollar was up to 0.9996 Swiss franc from 0.9963 Swiss franc, and it increased to 1.3288 Canadian dollars from 1.3274 Canadian dollars. Enditem

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