US dollar rises amid falling sterling

New York: The US dollar appreciated in late trading amid declining sterling on the backdrop of renewed Brexit fears.
British Prime Minister Boris Johnson on Tuesday was defeated in a vote on his Brexit timetable, Xinhua news agency reported.
Just minutes before the vote on the timetable motion, the government’s Brexit bill was backed by a vote of 329 to 299 in the second reading in parliament, clearing its first hurdle. However, the timetable motion was rejected.
Earlier on Tuesday, the Prime Minister told a parliament debate that he will pull the Brexit bill and push for an election if it is voted down by lawmakers.
He had vowed to take his country out of the European Union on October 31 with or without a deal.
The pound and the euro lost some strength amid lingering uncertainty concerning Brexit, experts noted.