Early trade in New York: Dollar, pound steady

The dollar and British pound were steady on Wednesday as European Union leaders consider Britain's request for a Brexit delay, and are expected to grant a three-month extension to the Oct. 31 deadline for its departure.

European Council President Donald Tusk said on Twitter he had recommended late on Tuesday that EU leaders back a delay. British Prime Minister Boris Johnson was forced by parliament to ask for three months, but there is still a chance that some EU countries, notably France, could demand a shorter extension.

Johnson paused his bill to enact the Brexit deal he struck last week with the European Union's 27 other member states, after dramatic votes on Tuesday in which the British parliament accepted the deal in principle but rejected a three-day timetable for passing the necessary legislation.

Foreign exchange trading was generally quiet following a sell-off Tuesday that saw the pound drop against both the dollar and the euro. Against the dollar, the pound was last down 0.02% to $1.287. Against the euro, the pound was 0.8% stronger to 86.34 pence.

The dollar index was up 0.08% at 97.606.

Safe haven currencies earlier Wednesday had been boosted by the Brexit uncertainty. But after the EU was seen as likely to approve an extension, gains in the Japanese yen and Swiss franc faded. The yen was last marginally lower at 108.55 per dollar, with the franc at 0.991 per dollar.