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U.S. dollar bounces amid weaker sterling, euro

2019-01-09 08:41

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The U.S. dollar rebounded on Tuesday, restoring some of its strength following previous slumps, as the British pound and the euro lost ground due to uncertainty over Brexit and downbeat economic data.

The euro's comparative value with the greenback extended a loss of over 0.31 percent on Tuesday, as lawmakers started to debate Prime Minister Theresa May's proposed Brexit deal.

May will still have to try hard to win over tough opponents, as the British parliament is scheduled to vote on her Brexit plan on Jan. 15.

The euro has been weighed down by sluggish industrial output data of Germany, Europe' s largest economy, raising concerns over a slowdown in the euro zone's economic growth.

Industrial output fell by 1.9 percent in November last year, the German Federal Statistics Office said on Tuesday, in opposite to previous market expectations of an 0.3-percent increase and marking a third straight monthly fall.

The dollar index, which measures the greenback against six major peers, increased 0.25 percent at 95.9044 in late trading.

In late New York trading, the euro fell to 1.1442 dollars from 1.1478 dollars in the previous session, and the British pound decreased to 1.2719 dollars from 1.2769 U.S. dollars in the previous session. The Australian dollar was down to 0.7139 dollar from 0.7142 dollar.

The U.S. dollar bought 108.63 Japanese yen, higher than 108.60 Japanese yen of the previous session. The U.S. dollar was up to 0.9812 Swiss franc from 0.9794 Swiss franc, and it fell to 1.3282 Canadian dollars from 1.3296 Canadian dollars. Enditem
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