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U.S. dollar falls as Brexit concern ease

Xinhua, June 30, 2016 Adjust font size:

The U.S. dollar declined against other major currencies on Wednesday as investor appetite for riskier assets like British pound recovered and demand for the greenback diminished.

Sterling climbed against the greenback for the second time on Wednesday after plunging to the lowest level in 31 years on Monday due to Britain' s surprise vote to leave the European Union on Friday. The result of Britain' s referendum shocked the market and spurred great concerns on the economic stability of the UK and Euro area.

The Sterling recovered 0.9 and 0.65 percent respectively against the greenback in late trading on Tuesday and Wednesday, as European Union leaders gathered in Brussels for a two-day meeting to discuss Britain' s decision to leave the bloc, raising speculations that policy makers may take measures to limit the economic fallout.

The dollar index, which tracks the greenback against six major peers, was down 0.51 percent at 95.755 in late trading on Wednesday.

In late New York trading, the euro rose to 1.1108 dollars from 1.1046 dollars of the previous session, and the British pound increased to 1.3430 dollars from 1.3321 dollars. The Australian dollar went up to 0.7438 dollars from 0.7361 dollars.

The dollar bought 102.56 Japanese yen, lower than 102.77 yen of the previous session. The dollar dropped to 0.9798 Swiss francs from 0.9832 Swiss francs, and it dipped to 1.2980 Canadian dollars from 1.3061 Canadian dollars. Enditem