* Italy makes no major changes on budget plan to EU * Sterling traders brace for Brexit cabinet meeting * Dollar slips further from 16-month peak after in-line CPI * Swedish crown falls vs euro on weak inflation data * Graphic: World FX rates in 2018 tmsnrt.rs/2egbfVh (Updates market action, changes dateline, previous LONDON) By Richard Leong NEW YORK, Nov 14 (Reuters) - The euro and sterling rose on Wednesday as traders monitor the latest developments between the European Union and Britain on the latter's departure from the economic bloc, and the EU and Italy on the resubmission of the latter's 2019 budget. Hopes the U.K. parliament would approve a draft accord for Brexit have bolstered the two currencies, while the euro has been bogged down by uncertainty on how EU officials would react to Italy's latest fiscal proposal after they rejected them last month for violation of certain EU rules. "The focus is on Brexit and Italy. They have been putting pressure on sterling and the euro the past few days," said Minh Trang, senior currency trader at Silicon Valley Bank in Santa Clara, California. Italy re-submitted its draft budget for next year to the European Commission with the same growth and deficit assumptions, but with falling debt, the new draft showed. Meanwhile, U.K. Prime Minister Theresa May will meet with her cabinet when she will try to sell her Brexit agreement. At 11:31 a.m. (1631 GMT), the euro was up 0.23 percent at $1.1314, erasing an earlier loss tied partly to weak regional growth data. Euro zone growth rose by 0.2 percent in the third quarter, official data showed, confirming its earlier preliminary flash estimate from Oct. 30. Against the sterling, the single currency was down 0.18 percent at 86.895 pence. The pound was up 0.4 percent at $1.3021. A stronger euro and pound pushed the dollar lower as it retreated further from a 16-month peak against a basket of currencies. Traders brushed off a government report on U.S. consumer prices that showed domestic inflation grew at a moderate annual pace in October, although they recorded their biggest monthly increase in nine months as expected. An index that tracks the dollar versus a basket of six major currencies was down 0.33 at 96.986 after hitting a 16-month high of 97.693 on Monday. Among other major currencies, the Swedish crown was little changed on the day after losing as much as 0.7 percent versus the euro to 10.278 crowns after weaker-than-expected inflation. ======================================================== Currency bid prices at 11:36AM (1636 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar EUR= $1.1313 $1.1289 +0.21% -5.69% +1.1347 +1.1263 Dollar/Yen JPY= 113.7000 113.8000 -0.09% +0.91% +114.0000 +113.6800 Euro/Yen EURJPY= 128.63 128.46 +0.13% -4.85% +129.2100 +128.2900 Dollar/Swiss CHF= 1.0066 1.0068 -0.02% +3.32% +1.0104 +1.0058 Sterling/Dollar GBP= 1.3018 1.2971 +0.36% -3.66% +1.3035 +1.2887 Dollar/Canadian CAD= 1.3232 1.3234 -0.02% +5.21% +1.3263 +1.3207 Australian/Doll AUD= 0.7214 0.7217 -0.04% -7.52% +0.7237 +0.7188 ar Euro/Swiss EURCHF= 1.1387 1.1368 +0.17% -2.58% +1.1423 +1.1362 Euro/Sterling EURGBP= 0.8687 0.8702 -0.17% -2.20% +0.8740 +0.8668 NZ Dollar/Dolar NZD= 0.6790 0.6763 +0.40% -4.18% +0.6800 +0.6758 Dollar/Norway NOK= 8.5000 8.4948 +0.06% +3.57% +8.5403 +8.4662 Euro/Norway EURNOK= 9.6169 9.5930 +0.25% -2.35% +9.6385 +9.5853 Dollar/Sweden SEK= 9.0839 9.0526 +0.53% +10.76% +9.1253 +9.0339 Euro/Sweden EURSEK= 10.2769 10.2230 +0.53% +4.46% +10.2978 +10.2137 (Additional reporting by Tommy Wilkes in LONDON Editing by Hugh Lawson and Chizu Nomiyama)
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