U.S. dollar weakens as risk appetite improves

NEW YORK, Jan. 19 (Xinhua) -- The U.S. dollar moved lower in late trading on Tuesday as risk appetite increased amid stimulus hopes, subduing demand for the safe-haven currency.

The dollar index, which measures the greenback against six major peers, fell 0.26 percent at 90.5100.

In late New York trading, the euro was up to 1.2125 U.S. dollars from 1.2078 dollars in the previous session, and the British pound increased to 1.3631 dollars from 1.3586 U.S. dollars in the previous session. The Australian dollar rose to 0.7694 U.S. dollar from 0.7680 dollar.

The U.S. dollar bought 103.87 Japanese yen, higher than 103.68 Japanese yen of the previous session. The U.S. dollar fell to 0.8887 Swiss franc from 0.8907 Swiss franc, and it decreased to 1.2731 Canadian dollars from 1.2752 Canadian dollars.

The above market moves came as Janet Yellen, U.S. President-elect Joe Biden's nominee for treasury secretary, on Tuesday urged U.S. Congress to pass a new COVID-19 relief package as the economic recovery is losing momentum amid surging coronavirus cases.

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