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U.S. dollar ticks down as euro, sterling grow stronger

Xinhua Financein NEW YORK
2018-11-02 08:55

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The U.S. dollar fell against most other major currencies in late trading on Thursday amid stronger euro and sterling as the market became positive on a possible EU-UK Brexit deal.

Both British pound and euro rose sharply in late trading on Thursday, posting an increase of 1.94 percent and 0.86 percent respectively.

Britain's Brexit secretary Dominic Raab said Wednesday that he expected to ink an EU-UK Brexit agreement by the end of November, which would grant UK-based financial services firms basic access to European Union markets.

Raab made the statement in a letter, dated Oct. 24, to Hilary Benn, the chair of the UK Parliament's Brexit committee. The secretary added that Britain and the EU had also "made good progress on the structure and scope of the future agreement."

In late New York trading, the euro dropped to 1.1408 dollars from 1.1326 dollars in the previous session, and the British pound rose to 1.3013 dollars from 1.2778 U.S. dollars in the previous session. The Australian dollar was up to 0.7206 dollar from 0.7077 dollar.

The U.S. dollar bought 112.65 Japanese yen, lower than 112.92 Japanese yen of the previous session. The U.S. dollar dropped to 1.0023 Swiss francs from 1.0082 Swiss francs, and it slid to 1.3087 Canadian dollars from 1.3161 Canadian dollars. 
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