US Dollar Strengthens

Rabu, 09 Jan 2019 10:16 WIB

SURABAYAPAGI.com- The US dollar exchange rate rebounded at the end of trading Tuesday (1/8) or Wednesday (1/9) morning WIB. The strengthening of the US dollar follows the weakening of the pound and the euro due to pressure from Brexit uncertainty and gloomy economic data. The comparative value of the euro with the greenback extended losses of more than 0.31 percent in trading on Tuesday (8/1), after British lawmakers began to debate the Brexit proposal proposed by Prime Minister Theresa May. May still has to work hard to win over his tough opponents in parliament, because the British parliament is scheduled to vote on the Brexit plan on January 15. Meanwhile, the euro has been weighed down by sluggish industrial output data from Germany, Europe’s biggest economy, raising fears over slowing growth in the eurozone economy. Industrial output fell 1.9 percent in November last year, the German Federal Statistical Office said on Tuesday (8/1), in contrast to previous market expectations for a 0.3 percent increase and marked the third consecutive monthly decline. The US dollar index, which measures the greenback against six of its rivals, rose 0.25 percent to 95.9044 in late trading. In late New York trade, the euro fell to 1.1442 dollars from 1.1478 dollars in the previous session, and the British pound fell to 1.2719 dollars from 1.2769 dollars in the previous session. The Australian dollar fell to 0.7139 US dollars from 0.7142 US dollars. The US dollar bought 108.63 Japanese yen, higher than 108.60 Japanese yen in the previous session. The US dollar rose to 0.9812 Swiss francs from 0.9794 Swiss francs, and weakened to 1.3282 Canadian dollars from 1.3296 Canadian dollars. rk

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