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U.S. dollar rallies amid slumping British pound
Last Updated: 2018-12-12 10:37 | Xinhua
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The U.S. dollar extended gains in late trading on Tuesday, as the sterling plummeted over the latest chaos surrounding Brexit.

British Prime Minister Teresa May on Tuesday met with European leaders to court support for changes to her Brexit deal, after she decided to delay a parliamentary vote on her Brexit deal previously scheduled for Tuesday.

However, the EU has shut out the possibility to renegotiating her UK-EU divorce deal. May's Brexit deal will be brought back to the British parliament for a vote on before Jan. 21, said May's official spokesman on Tuesday. The cabinet will meet on Wednesday afternoon with a focus on no-deal preparedness.

Such moves continued to rattle investors and dragged the sterling to the lowest level since April 2017. Analysts said it is hard to predict how sterling would be traded in the future, as it largely depends on what would come out from May's talks with Brussel and how the British parliament would react later.

In late New York trading, the euro fell to 1.1326 dollars from 1.1352 dollars in the previous session, and the British pound decreased to 1.2528 dollars from 1.2557 U.S. dollars in the previous session. The Australian dollar increased to 0.7205 dollar from 0.7185 dollar.

The U.S. dollar bought 113.39 Japanese yen, higher than 113.20 Japanese yen of the previous session. The U.S. dollar increased to 0.9928 Swiss franc from 0.9897 Swiss franc, and it was down to 1.3396 Canadian dollars from 1.3411 Canadian dollars.

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