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Business

REUTERS
November 15, 2017

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Dollar rises

Dollar rises

TOKYO: Sterling was flat on the day at $1.3115, nursing losses after it skidded in the previous session against a backdrop of political turmoil as British lawmakers this week debate the U.K. government´s plans for leaving the European Union.

The Brexit bill will be debated on Tuesday and Wednesday, with as many as 40 of Prime Minister Theresa May´s Conservative lawmakers prepared to support a no-confidence motion against her, according to the Sunday Times newspaper.

Also in focus, European Central Bank chief Mario Draghi, Federal Reserve Chair Janet Yellen, Bank of Japan Governor Haruhiko Kuroda and Bank of England head Mark Carney will form a panel on central bank communication at the ECB-hosted conference in Frankfurt later on Tuesday.

"Major currencies have consolidated in ranges today, but something could emerge at the ECB conference later in the day," said Keiko Ninomiya, senior FX market analyst at SMBC Trust Bank in Tokyo.

The dollar index, which tracks the U.S. currency against a basket of six major rivals, was steady on the day at 94.486 . Against its Japanese counterpart, the dollar inched slightly higher to 113.66 yen, but remained below its eight-month high of 114.735 hit last week. —Reuters

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