United States dollar drops amid rising sterling

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The dollar index fell 0.47 percent, with the euro up 0.4 percent to $1.1331. The live dollar index data show the ICE US Dollar index, a measure of the dollar's strength against a basket of six rival currencies, slipped 0.03% to 96.97 but is higher now.

The pound was down 0.54 percent at $1.3266 in afternoon American trade as Prime Minister Theresa May piled pressure on rebel lawmakers on Thursday to back her battered European Union divorce deal as parliament prepared to vote on seeking a delay to Britain's departure that could ultimately derail the process. At the time of writing, Parliament was a few hours away from a symbolic vote on "ruling out a no deal Brexit" which is expected to pass.

Asian shares barely budged on Thursday as investors reacted cautiously to mixed data from China, while the pound hovered near nine-month highs as the risk of a no-deal Brexit receded following a late-night vote. The pound rose on hopes of a delayed Brexit, a move which investors said could increase May's chances of getting her deal with the European Union through parliament or lead to Brexit being called off altogether if a second referendum is held.

The Australian dollar was down 0.2 per cent at US$0.7081, handing back the previous day's modest gains.

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The yuan weakened. Treasuries were steady and the dollar gained, holding those moves as data showed US jobless claims rose to a four-week high. US stocks rose broadly after USA producer price data backed the Federal Reserve's patient stance on future interest rate hikes. The 10-year Treasury yield slumped, and crude oil rose after Saudi Arabia was said to extend deep supply cuts.

USA dollar fell in late trading on Wednesday, amid big gains in the British pound. Immediate resistance can be seen at 1.3300 (Psychological Level), an upside break can trigger rise towards 1.3365 (61.8% retracement level).On the downside, immediate support is seen at 1.3273 (21 DMA), a break below could take the pair towards 1.3264 (50 DMA).

Gold hit almost a two-week high as tepid U.S. economic data reinforced views the Fed would be patient on monetary policy. The U.S. central bank's rate-setting committee will issue its next policy statement following its March 19-20 meeting.

The dollar index hovered near a seven-day trough hit after the inflation data against a basket of major currencies Against the Japanese yen, the greenback gained slightly to 111.44.

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MSCI's gauge of stocks across the globe gained 0.57 percent while the FTSEurofirst 300 index of leading European shares closed up 0.69 percent. The S&P 500 gained 19.4 points, or 0.69 percent, to 2,810.92 and the Nasdaq Composite added 52.37 points, or 0.69 percent, to 7,643.41. The U.S. dollar was softer on Wednesday after new inflation data bolstered the likelihood U.S. interest rates will not be raised any time soon. Shares fell 3.0 percent.

The rationale: Britain just can't seem to agree on a Brexit deal - and the uncertainty will keep bruising sentiment toward the most-volatile Group-of-10 currency this year, said Jingyi Pan, strategist at IG Asia Pte in Singapore.

The pullback in sterling follows a big rally on Wednesday.

The Bloomberg Commodity Index declined 0.3 percent, the largest decrease in more than a week.West Texas Intermediate crude increased 0.1 percent to $58.30 a barrel, the highest in four months.LME copper sank 1.3 percent to $6,390.50 per metric ton, the lowest in three weeks on the largest tumble in 10 weeks.Gold sank 0.8 percent to $1,298.54 an ounce, the biggest dip in nearly two weeks.

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