US dollar edges up as traders eye stimulus talks

US dollar

New York, (Asian independent) The US dollar rose modestly in late trading on Monday as market participants focused on updates on additional coronavirus stimulus.

The dollar index, which measures the greenback against six major peers, increased 0.01 per cent at 93.0636, Xinhua news agency reported.

In late New York trading, the euro fell to $1.1810 from $1.1825 in the previous session, and the British pound rose to $1.3063 from $1.3038 in the previous session. The Australian dollar was down to $0.7212 from $0.7231.

The US dollar bought 105.34 Japanese yen, lower than 105.62 Japanese yen of the previous session. The US dollar was down to 0.9093 Swiss franc from 0.9097 Swiss franc, and it fell to 1.3114 Canadian dollars from 1.3131 Canadian dollars.

The moves came as traders continued to monitor stimulus negotiations in Washington.

US House Speaker Nancy Pelosi said on Sunday that negotiations with the White House over a new Covid-19 relief package remained at an impasse.

The two sides have been negotiating for weeks over a follow-up package to combat the economic effects caused by the Covid-19 pandemic. They remained far apart on how much of a boost to provide and what it should target.

More than 7.78 million confirmed Covid-19 cases have been reported in the US with nearly 215,000 deaths as of Monday afternoon, according to a tally by Johns Hopkins University.