US dollar rises against British pound

New York: The US dollar rose against the British pound in late trading after the Queen Elizabeth has approved a request by British Prime Minister Boris Johnson to suspend Parliament just weeks before the Brexit deadline on Oct 31.

The Queen approved the order to prorogue parliament no earlier than Sept 9 and no later than Sept 12. It will return with the Queen’s speech on Oct 14, just two weeks before the scheduled Brexit date.

The move added to market concerns that no-deal Brexit will be more likely than before.

The dollar index, which measures the greenback against six major peers, on Wednesday was up 0.21 per cent at 98.2095 in late trading, Xinhua news agency reported.

In late New York trading, the euro fell to 1.1078 US dollars from 1.1092 dollars in the previous session, and the British pound fell to 1.2217 dollars from 1.2295 dollars in the previous session. The Australian dollar fell to 0.6736 dollar from 0.6756 dollar.

The US dollar bought 106.04 Japanese yen, higher than 105.78 Japanese yen of the previous session. The US dollar rose to 0.9816 Swiss franc from 0.9809 Swiss franc, and it rose to 1.3307 Canadian dollars from 1.3287 Canadian dollars.