
Dollar mired near two-and-half year low
TOKYO (Reuters) FX Signals – The dollar started the week on the back foot on Monday after soft U.S. jobs data only solidified expectations of a fresh economic package, while the British pound eyed last-ditch trade talks between the United Kingdom and European Union.
The dollar index stood little changed at 90.726, having hit a 2 1/2-year low of 90.471 on Friday. The euro changed hands at $1.2133, having climbed on Friday to as high as $1.2177, a level last seen in April 2018.
Signal Dollar Down Amid Rising U.S.- China Tensions
“When risk appetite is in a good place, like it is now, demand for the U.S. dollar is going to be weaker,” said Ray Attrill, head of foreign exchange strategy at National Australia Bank (OTC:NABZY) in Sydney. “Further dollar depreciation is baked in the cake.”
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Talks aimed at delivering a fresh infusion of coronavirus relief gathered momentum in the U.S. Congress on Friday, as a bipartisan group of lawmakers worked to put the finishing touches on a $908 billion bill they hope to get through this week.
The spectre of fresh borrowing boosted the 10-year U.S. Treasuries yield to an 8 1/2-month high of 0.986% on Friday, helping lift the dollar against the yen to 104.20 yen.
Signals Brief for May 22nd US-China Tensions Reemerge
The European Central Bank sets policy on Thursday.
The offshore yuan stood at 6.5184 per dollar, just shy of its 2 1/2-year high of 6.5070 set on Friday.
Chinese policymakers are comfortable with the yuan’s rise as the country’s economic rebound accelerates and the central bank gives the market greater leeway in setting the currency’s value, sources told Reuters.
Forex – Dollar Weakens as Risk
Sterling traded little changed at $1.3422, stepping back from 2 1/2-year high of $1.3540 touched on Friday as investors looked to talks between Britain and the EU this week to avert a chaotic parting of ways at the end of the year.
Earlier it fell to as low as $1.3360 after weekend talks stalled on three thorny issues.
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Dollar mired near two-and-half year low

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Dollar mired near two-and-half year low
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