US dollar falls amid Brexit deal hopes

New York: The US dollar decreased against most other major currencies as investors believed that the UK and the European Union (EU) will reach a deal before Brexit goes into effect.

In late New York trading on Thursday, the euro increased to $1.1405 from $1.1388 in the previous session, and the British pound rose to $1.2876 from $1.2780 in the previous session, Xinhua news agency reported.

The Australian dollar fell to $0.7253 from $0.7264.

The US dollar bought 112.95 Japanese yen, lower than 113.07 Japanese yen of the previous session. The US dollar was down to 0.9943 Swiss franc from 0.9944 Swiss franc, and it dipped to 1.3195 Canadian dollars from 1.3254 Canadian dollars.

Prime Minister Theresa May said on Thursday afternoon that she will do “everything possible” to deliver for the British people the Brexit deal which is “within grip”.

In her statement to the House of Commons, May said that the draft deal that Britain agreed with the EU, which is good for both sides, “ends free movement once and for all.”

Britain and the European Union agreed in principle to a text setting out their future relationship before a summit on Sunday, according to media reports.

The euro and British pound jumped following the news, which put the US dollar under pressure.

The dollar index, which measures the greenback against six major peers, fell 0.23 per cent at 96.4872 in late trading.