· Dollar dithers in thin trade as Trump passes pandemic aid package
The dollar shrugged off news of President Trump relenting on a threat to block a Covid-19 aid bill in thin trading on Monday with many investors on holiday.
The pound hovered below a 2 1/2-year high in the Asian session following the agreement last week of a narrow Brexit trade deal that does not cover Britain’s financial sector.
The dollar index was little changed at 90.224, following a three-day slide.
Sterling added 0.1% to $1.3544, treading water below the 2 1/2-year high of $1.3625 hit earlier this month.
Trump signed into law the $2.3 trillion pandemic aid and spending package, officials said on Sunday night, averting a partial federal government shutdown.
Earlier he had cryptically tweeted, “Good news on Covid Relief Bill. Information to follow!” He had previously demanded an increase in stimulus checks for struggling Americans to $2,000 from $600.
The euro slipped 0.1% to $1.2199, further retreating from the 2 1/2-year high of $1.2273 touched this month.
The dollar was little changed at 103.63 yen.
Policymakers at Japan’s central bank were divided on how far they should go in examining yield curve control with some calling for a comprehensive review of the framework, a summary of opinions voiced at the December rate review showed on Monday.
· Most UK businesses have prepared for end of Brexit transition - minister
Most British businesses have made preparations for the end of the Brexit transition period, cabinet office minister Michael Gove said on Monday, adding it was important they were ready for changes to trading and regulatory rules.
Asked if businesses were ready for the end of the transition period on Dec. 31, when Britain finally leaves the European Union’s customs union and single market, Gove said: “Yes. The overwhelming majority of businesses have been getting ready, absolutely.”
“I think business is broadly in a good place but inevitably with any change, with any transition, there are occasional bumpy moments.”
· Pfizer delayed delivery of new batch of vaccine to Spain by one day
Pfizer has postponed the delivery of a new batch of the coronavirus vaccine to Spain by one day to Tuesday due to a logistics hurdle, Health Minister Salvador Illa said on Monday.
The company suffered an incident related to the control of temperature in the process of loading and sending out the vaccines, the minister said, adding the incident is now solved.
· China says U.S. should stop using Taiwan to meddle in its affairs
The United States should stop using Taiwan to meddle in China’s domestic affairs, the Chinese Foreign Ministry said on Monday, after U.S. President Donald Trump signed into law the Taiwan Assurance Act of 2020.
The act was included in a $2.3 trillion pandemic aid and spending package Trump signed on Sunday.
· Behind China’s fastest-growing big city: Aviation, tourism and a potential housing bubble
The city’s GDP grew 4.5% in the first three quarters of the year, the fastest of all major Chinese cities, according to Wind Information. Beijing city grew 0.1%, while Shanghai contracted 0.3% during the first nine months of the year, the data showed. National GDP is set for roughly 2% growth this year.
· Oil trims losses after Trump signs aid bill; demand concerns linger
Oil pared some of its losses from earlier on Monday after U.S. President Donald Trump signed a $2.3 trillion coronavirus aid and spending package but lingering worries about near-term demand weighed on market sentiment.
Brent crude futures were down 25 cents, or 0.5%, to $51.04 a barrel at 0700 GMT, having fallen as much as 1.5% to $50.53 a barrel earlier in the session.
U.S. West Texas Intermediate (WTI) crude futures slipped 19 cents, or 0.4%, to $48.04 a barrel.
“With President Trump signing the bill, oil has quickly recouped most of its losses today, although both Brent and WTI remain modestly in the red,” said Jeffrey Halley, senior market analyst at OANDA.
· Sydney told to watch its famous New Year's Eve fireworks from home
Sydney, one of the world’s first major cities to welcome each New Year with a public countdown featuring a fireworks display over its well-known Opera House, has banned large gatherings that night amid an outbreak of the coronavirus.
A mid-December resurgence of COVID-19 in the city’s northern beach suburbs has grown to 125 cases after five new infections were recorded on Monday. About a quarter of million of people there must stay in strict lockdown until Jan. 9
Reference: Reuters, CNBC
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