Fri. Nov 27th, 2020

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Dollar rises

1 min read
Dollar bills

Dollar gains

The dollar held onto gains against most currencies on Wednesday after Republican U.S. President Donald Trump’s abrupt cancelling of talks on economic stimulus with Democrats increased risk aversion.

Currencies had only just regained a sense of calm after Trump returned to the White House from hospital, where he received treatment for the coronavirus.

Trump’s surprise decision to call off stimulus talks until after the November 3 presidential election increases downside risks for an already shaky U.S. economy, which is likely to favor safe harbor flows into the dollar.

The dollar was last quoted at $1.1738 per euro, holding onto a 0.4% gain in the previous session.

The British pound was quoted at $1.2869 after skidding by 0.86% on Tuesday as optimism about Britain’s trade negotiations with the European Union failed to shield sterling from the dollar’s advance.

The dollar bought 0.9179 Swiss franc after rising 0.3% in the previous session.

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