FOREX-Dollar steady as markets wait on stimulus news

  • Reuters
  • Forex News
FOREX-Dollar steady as markets wait on stimulus news
Credit: © Reuters.

* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E (Updates prices)

By Karen Brettell

NEW YORK, Oct 8 (Reuters) - The U.S. dollar was little changed against a basket of currencies on Thursday as investors waited for fresh news on whether new U.S. fiscal stimulus is likely in the near term.

The greenback has been whipsawed by swings in risk sentiment after U.S. President Donald Trump on Tuesday halted negotiations with Democrats on a new economic package, but later pushed for the approval of more targeted stimulus bills to offset economic damage from the coronavirus.

U.S. House of Representatives Speaker Nancy Pelosi said on Thursday said legislation to help airline companies survive the fallout from the coronavirus pandemic was a matter of national security and could only move through Congress with guarantees that lawmakers will work on a more comprehensive aid bill. just really consolidating. I think the market right now lacks near-term conviction, partly because of uncertainty about U.S. fiscal policy, and sensitivity to these U.S. presidential tweets," said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York. "There's no new news to shake things up one way or another."

The dollar index =USD was little changed against a basket of major currencies at 93.60. It has fallen from a two-month high of 94.75 on Sept. 25, but has held in a tight range between 93.33 and 93.90 this week.

The greenback was little changed at 105.99 Japanese yen JPY= , and against the euro EUR= at $1.1757.

Investors have been increasing bets that Democrat presidential candidate Joe Biden is more likely to win the Nov. 3 U.S. election, and that Democrats could also win the Senate.

A Democratic sweep would make larger fiscal stimulus more likely, which would weaken the U.S. currency.

"Overall, investors seem to be focusing more on the increasing odds of a Biden win and what that might imply for a stimulus package after the election," said Marshall Gittler, head of investment research at BDSwiss.

The New Zealand dollar NZD= dropped as much as half a percent after central bank officials again hinted that negative interest rates are possible. It recovered later on Thursday and was last up 0.05% at $0.6582. stabilized as prospects for a Brexit deal appeared to improve, with Britain giving it a 66% chance of success. pound GBP= was last up 0.12% at $1.2934. ========================================================

Currency bid prices at 3:04PM (1904 GMT) Description

RIC

Last

U.S. Close Pct Change

YTD Pct

High Bid

Low Bid

Previous

Change

Session

Euro/Dollar

EUR=

$1.1757

$1.1760

-0.03%

+4.88%

+1.1781

+1.1734 Dollar/Yen

JPY=

105.9900

105.9600

+0.03%

-2.63%

+106.1000 +105.9300 Euro/Yen

EURJPY=

124.63

124.63

+0.00%

+2.20%

+124.8700 +124.3800 Dollar/Swiss

CHF=

0.9170

0.9172

-0.02%

-5.25%

+0.9196

+0.9158 Sterling/Dollar GBP=

1.2934

1.2918

+0.12%

-2.45%

+1.2970

+1.2892 Dollar/Canadian CAD=

1.3201

1.3253

-0.39%

+1.66%

+1.3269

+1.3198 Australian/Doll AUD=

0.7163

0.7138

+0.35%

+2.02%

+0.7170

+0.7124 ar

Euro/Swiss

EURCHF=

1.0782

1.0789

-0.06%

-0.62%

+1.0800

+1.0781 Euro/Sterling

EURGBP=

0.9089

0.9102

-0.14%

+7.51%

+0.9123

+0.9071 NZ

NZD=

0.6582

0.6579

+0.05%

-2.29%

+0.6596

+0.6548 Dollar/Dollar

Dollar/Norway

NOK=

9.2652

9.3016

-0.39%

+5.55%

+9.3085

+9.2586 Euro/Norway

EURNOK=

10.8947

10.9430

-0.44%

+10.74%

+10.9588

+10.8770 Dollar/Sweden

SEK=

8.8647

8.8743

-0.24%

-5.16%

+8.8947

+8.8586 Euro/Sweden

EURSEK=

10.4264

10.4517

-0.24%

-0.41%

+10.4595

+10.4180

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