Brexit vote delay: U.S. dollar rebounds

World
Europe

The U.S. dollar rose against other major currencies in late trading on Monday, as the sterling took a dive after British Prime Minister Theresa May postponed a parliamentary vote on her planned Brexit deal.

The British pound tumbled to a 21-month low after the May government confirmed to delay a "meaningful vote" on her Brexit deal previously scheduled for Tuesday, fanning broad panic over a disorderly no-deal Brexit and deepening political volatility in Europe.

May said she would hold emergency talks with EU leaders to "discuss possible changes to backstop" and defended her plan by saying it was in "no doubt that this is the right Brexit deal."

With the exit deadline set just over three months away on March 29, May cautioned those who mulled another referendum should "be honest on the risk of dividing the UK."

In late New York trading, the euro fell to 1.1352 from 1.1421 U.S. dollars in the previous session, and the British pound decreased to 1.2557 from 1.2751 U.S. dollars in the previous session. The Australian dollar decreased to 0.7185 from 0.7209 U.S. dollar.

The U.S. dollar bought 113.20 Japanese yen, higher than 112.64 Japanese yen of the previous session. The U.S. dollar increased to 0.9897 from 0.9892 Swiss francs, and it was up to 1.3411 from 1.3282 Canadian dollars.

Source(s): Xinhua News Agency