Dollar steady as markets wait on stimulus news
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.
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.
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.
Sterling stabilized as prospects for a Brexit deal appeared to improve, with Britain giving it a 66% chance of success.
The pound GBP= was last up 0.12% at $1.2934.
Reference: CNBC
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