US dollar rises amid falling pound, euro

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New York, Feb 1 (IANS) The US dollar extended slight gains as its exchange rates against the euro and pound rose, which demonstrated traders’ and investors’ concern about Britain’s divorce deal with the European Union (EU).

In late New York trading on Thursday, the euro decreased to $1.1444 from $1.1481 in the previous session, and the British pound slid to $1.3111 from $1.3112 in that period, Xinhua news agency reported.

The Australian dollar increased to $0.7264 from $0.7254.

The US currency stood at 108.87 yen, lower than 108.93 yen of the previous session. The US dollar was up to 0.9946 Swiss franc from 0.9941 Swiss franc, and decreased to 1.3131 Canadian dollars from 1.3148 Canadian dollars.

British Prime Minister Theresa May has not secured a Brexit deal and EU officials worry that a no-deal Brexit would pose “under-appreciated risk” to the European financial markets, said the Guardian.

British Foreign Secretary Jeremy Hunt said in a TV programme on Thursday that Brexit could be delayed as the government may need “extra time” to pass key legislation, describing the Brexit impasse as “a very challenging situation.”

–IANS

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