U.S. dollar weakens as traders assess stimulus


  • World
  • Wednesday, 30 Dec 2020

NEW YORK, Dec. 29 (Xinhua) -- The U.S. dollar fell in late trading on Tuesday as market participants assessed the possibility of more fiscal stimulus.

The dollar index, which measures the greenback against six major peers, was down 0.39 percent at 89.9900 in late trading.

In late New York trading, the euro was up to 1.2252 U.S. dollars from 1.2206 dollars in the previous session, and the British pound was up to 1.3497 dollars from 1.3444 U.S. dollars in the previous session. The Australian dollar rose to 0.7610 U.S. dollar from 0.7576 dollar.

The U.S. dollar bought 103.52 Japanese yen, lower than 103.83 Japanese yen of the previous session. The U.S. dollar was down to 0.8845 Swiss franc from 0.8896 Swiss franc, and it decreased to 1.2811 Canadian dollars from 1.2842 Canadian dollars.

The Democrats-held House of Representatives on Monday passed a bill to boost the second round of federal direct payments to 2,000 U.S. dollars for individuals, up from the 600 dollars for individuals in the new relief package.

The vote came after U.S. President Donald Trump recently asked Congress to increase the amount of stimulus checks.

The House passed the 2,000-dollar direct payments in a fast-track procedure that needed two-thirds support. But it remains to be seen whether a Republican-controlled Senate would go along with it.

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