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US dollar, stocks tumble after May's Brexit speech
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IANS | 18 Jan, 2017
The US dollar and stocks took a
hit on Tuesday as investors pondered over comments from British Prime
Minister Theresa May on Brexit.
Britain will leave the European
single market, restrict access to the country by EU citizens and end the
jurisdiction in Britain of the European Court of Justice (ECJ), May
said in her speech on Tuesday.
While, the British pound surged
over 2 per cent following May's speech, the US dollar dropped 0.83 per
cent at 100.34 in late trading on Tuesday, Xinhua news agency reported.
This
came amidst US President-elect Donald Trump's remarks on Friday, where
he said interview with The Wall Street Journal that the US currency has
gotten "too strong."
In late New York trading, the euro rose to
$1.0707 from $1.0640 in the previous session, and the British pound
jumped to $1.2395 from $1.2189 in the previous session.
Meanwhile,
the Dow Jones Industrial Average fell 58.96 points, or 0.30 per cent,
to 19,826.77. The S&P 500 decreased 6.75 points, or 0.30 per cent,
to 2,267.89. The Nasdaq Composite Index slid 35.39 points, or 0.63 per
cent, to 5,538.73.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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