Forex Signals - Dollar on backfoot - Telegram Forex Signals

Forex Signals – Dollar on backfoot

TOKYO (Reuters) – The dollar nursed losses against most of its peers on Thursday amid fading hopes for a compromise between Republicans and Democrats over additional economic stimulus.

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FILE PHOTO: U.S. dollar notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic

FX Signals

“Once this happens, gains in dollar/yen could be a catalyst for dollar gains against other currencies.”

Against the euro (EUR=D3), the dollar traded at $1.1786 following a 0.4% decline on Wednesday.

The British pound held steady at $1.3034.

The dollar was quoted at 0.9122 Swiss franc after falling around half a percent against the safe harbour currency during the previous session.

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The dollar fared slightly better against the yen, trading at 106.87, near a three-week high. Forex Signals – Dollar on backfoot

President Donald Trump accused congressional Democrats on Wednesday of not wanting to negotiate over a U.S. coronavirus aid package as top Republican and Democratic negotiators traded blame for a five-day lapse in talks over relief legislation.

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Euro to Pound Sterling Exchange Rate

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Elsewhere in currencies, the Australian dollar was little changed at $0.7165 as traders braced for the closely-watched jobs report for July.

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A resurgence of coronavirus cases in Melbourne has rattled confidence in Australia’s economy.

Across the Tasman Sea, the New Zealand dollar bought $0.6577, stabilising after the country’s central bank expanded quantitative easing and flagged the prospect of negative interest rates.

The dollar was down on Thursday morning in Asia, reversing its gains from the day before over the U.S. Congress’ inability to reach a consensus for the country’s latest COVID-19 stimulus package.

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“Once this happens, gains in dollar/yen could be a catalyst for dollar gains against other currencies.”

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