WASHINGTON, Sept. 18, 2019 (Xinhua) -- Photo taken on Sept. 18, 2019 shows U.S. dollar banknotes in Washington D.C., the United States. U.S. Federal Reserve on Wednesday lowered interest rates by 25 basis points amid growing risks and uncertainties s. Image Source: IANS News

New York, Oct 16 : The US dollar declined against the British pound after news reports showed Britain and European Union (EU) negotiators are closing in on a draft Brexit deal.

EU officials were cited by Bloomberg as saying that there could be a breakthrough before the end of Tuesday, Xinhua news agency reported.

The dollar index, which measures the greenback against six major peers, decreased 0.16 per cent at 98.2867 in late trading.

In late New York trading, the euro was up to US $1.1034 from US $1.1031 in the previous session, and the British pound increased to US $1.2781 from US $1.2576 in the previous session.

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