Sterling jumps after no-deal Brexit rejected; dollar softer

Sterling jumps after no-deal Brexit rejected; dollar softer

Sterling jumps after no-deal Brexit rejected; dollar softer

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.

Other U.S. data showed import prices in February rose by the most in nine months. US stocks rose broadly after USA producer price data backed the Federal Reserve's patient stance on future interest rate hikes. The dollar was last down 0.41 percent against the euro, at $1.133. The price of oil, one of Canada's major exports, rose as US crude inventories unexpectedly fell and an official forecast of crude oil supply growth from the world's top producer was revised lower.

NEW YORK, March 13 (Reuters) - World equity markets advanced broadly on Wednesday after USA data again showed risk-friendly low inflation, which weakened the dollar, but shares of Boeing retreated after the United States said it would ground the company's 737 MAX aircraft. Nikkei slumped 1% to 21290.24 with yen little changed against the dollar as data showed domestic machinery orders fall in January accelerated. The U.S. central bank's rate-setting committee will issue its next policy statement following its March 19-20 meeting. The U.S. dollar index, which measures the greenback against a basket of six rival currencies, was 0.43 percent lower at 96.515.

British lawmakers voted by a margin of 43 to confirm their decision to reject any no deal Brexit on Wednesday. Chinese stocks turned lower: theShanghai Composite Index is down 1.1% and Hong Kong's Hang Seng index is 0.5% lower.

Dow Jones closed up by 0.58 percent, S&P 500 ended up 0.69 percent, Nasdaq finished the day up by 0.69 percent.

US 30-year bond yields were up at 3.011 percent from 2.99 percent on Tuesday.But yields on both 10-year notes and 30-year bonds have fallen in six of the last eight sessions.

In late NY trading, the euro was up to 1.1329 US dollars from 1.1296 dollars in the previous session, and the British pound rose to 1.3217 dollars from 1.3084 dollars in the previous session.

The yield on 10-year Treasuries gained one basis point to 2.63 percent.Germany's 10-year yield gained one basis point to 0.07 percent, the highest in more than a week.Britain's 10-year yield advanced three basis points to 1.227 percent, the highest in more than a week.The spread of Italy's 10-year bonds over Germany's decreased three basis points to 2.4582 percentage points.

"With the uncertainty around (Brexit), it's not a take sizeable positions".

Wednesday's vote boosted investor optimism in European equities too, with the pan-European STOXX 600 index climbing 0.6 percent while London's FTSE 100 added 0.1 percent as sterling extended gains.

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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