Sat, 19 Sep 2020

U.S. dollar weakens amid stimulus deadlock

Xinhua
14 Aug 2020, 06:30 GMT+10

NEW YORK, Aug. 13 (Xinhua) -- The U.S. dollar dipped in late trading on Thursday as market participants fretted over the uncertain fate of a new U.S. coronavirus-relief package.

The dollar index, which measures the greenback against six major peers, fell 0.12 percent at 93.3360.

In late New York trading, the euro increased to 1.1800 U.S. dollars from 1.1783 dollars in the previous session, and the British pound rose to 1.3053 dollars from 1.3026 U.S. dollars in the previous session. The Australian dollar fell to 0.7143 U.S. dollar from 0.7162 dollar.

The U.S. dollar bought 106.90 Japanese yen, higher than 106.85 Japanese yen of the previous session. The U.S. dollar fell to 0.9107 Swiss franc from 0.9122 Swiss franc, and it was down to 1.3224 Canadian dollars from 1.3253 Canadian dollars.

Investors remained cautious as U.S. lawmakers continued to wrangle over the further coronavirus stimulus.

On the data front, U.S. initial jobless claims, a rough way to gauge layoffs, registered 963,000 in the week ending Aug. 8, following an upward revised 1.191 million in the prior week, the Department of Labor reported on Thursday.

It marked the first time U.S. weekly claims have dipped below 1 million since the economic shutdown sparked by the coronavirus pandemic began in March.

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