Dollar benefits as sterling swings wildly on Brexit votes

Tech stocks lead rebound as Boeing tumbles anew

Tech stocks lead rebound as Boeing tumbles anew

Shares in Europe rose on investor optimism that British lawmakers will rule out a "no-deal" Brexit.

"Once expectations for a delayed exit from the European Union are confirmed after tonight's vote in parliament, the pound could face more pressure".

Wall Street was buoyant overnight after USA producer prices barely edged higher in February, the latest sign that inflation remained tame and affirming expectations the Federal Reserve would maintain a "patient" approach to future tightening. US stocks rose broadly after USA producer price data backed the Federal Reserve's patient stance on future interest rate hikes.

Oil prices extended overnight gains with USA crude up 15 cents per barrel at $58.41 and Brent adding 22 cents to $67.77.

GRAPHIC-World FX rates in 2019: (Recasts; updates prices) By Kate Duguid NEW YORK, March 13 (Reuters) - The British pound jumped in late Wednesday trade, hitting session highs after British lawmakers rejected leaving the European Union without a deal in any scenario.

Gold hit almost a two-week high as tepid US economic data reinforced views the Fed would be patient on monetary policy. 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. dollar bought 111.03 Japanese yen, lower than 111.27 Japanese yen of the previous session. The stock closed up 0.5 percent.

USA stocks rose on Wednesday, led by gains in healthcare shares, and Boeing shares edged upward even as the United States grounded the company's 737 MAX jets after a fatal crash in Ethiopia. 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.

Benchmark 10-year U.S. Treasury notes fell 2/32 in price to push yields up to 2.6141 percent.

The MSCI Asia Pacific Index fell 0.3 percent.

Boeing gained in early trade for the first time since Sunday's crash of a 737 MAX 8 jet in Ethiopia, but the shares later retreated after first Canada and then the United States said they were grounding 737 MAX jets, following steps already taken by Europe and other nations.

Sterling was down 0.4 per cent at US$1.3285 (RM5.428) after going as high as US$1.3380 the previous day, its strongest since June 2018.

While sterling has recently rallied as investors latched on to the hope of a Brexit deadline extension, that euphoria may be short-lived, said Marcus Wong, strategist at CIMB Bank Bhd.

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. USA gold futures settled 0.9 percent higher at $1,309.3 per ounce.