Sun. Jun 20th, 2021

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Dollar is steady today

1 min read
Dollar bills

The dollar was steady against a basket of currencies on Tuesday as traders looked out to the first U.S. presidential debate and developments on the U.S. stimulus bill.

The dollar index stood unchanged at 94.150, drifting away from a two-month high of 94.745 reached last week, as stock markets made solid gains partly on upbeat China data with Wall Street rebounding following last week’s selloff.

All eyes are on the first U.S. presidential election debate where Democrat Joe Biden and Republican Donald Trump will square off later in the day (Wednesday 0100 GMT).

Markets are also braced for a slew of data to gauge the health of the world’s biggest economy ahead of the election, analysts say, including Tuesday’s consumer confidence, a manufacturing survey and consumer data on Thursday as well as jobs report on Friday.

Sterling outperformed other currencies, extending overnight gains on optimism about a Brexit trade deal as the European Union and Britain kicked off a decisive week of talks.

The British pound was fetching $1.2875 in Asian trade, having touched $1.2930 overnight.

Against the euro, sterling changed hands at 90.74 pence.

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