U.S. dollar rises as political turbulence unsettles sterling

Source: Xinhua| 2018-12-15 06:27:43|Editor: huaxia
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NEW YORK, Dec. 14 (Xinhua) -- The U.S. dollar rallied to a 19-month high in late trading on Friday, as the greenback's safe-haven demand surged due to a bearish sterling.

The British pound took a dive on Friday, as British Prime Minister Teresa May failed to win over Brussels to make adjustment to her planned Brexit deal previously agreed by the EU but strongly objected by domestic opponents.

The move dimmed hopes of May's bids to salvage her planned deal and later get it passed in a divided British parliament, as the embattled leader had just survived a no-confidence vote only one day after she postponed a parliamentary vote on the draft deal.

With the deadline of UK's exit from the EU set only about three months away on March 29 next year, analysts cautioned that a no-deal Brexit would possibly thrust the British economy into greater volatility.

In late New York trading, the euro decreased to 1.1303 dollars from 1.1366 dollars in the previous session, and the British pound was down to 1.2579 dollars from 1.2660 U.S. dollars in the previous session. The Australian dollar decreased to 0.7178 dollar from 0.7227 dollar.

The U.S. dollar bought 113.29 Japanese yen, lower than 113.60 Japanese yen of the previous session. The U.S. dollar increased to 0.9977 Swiss franc from 0.9933 Swiss franc, and it was up to 1.3374 Canadian dollars from 1.3355 Canadian dollars. Enditem