Thu. Dec 1st, 2022

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Dollar stabilizes

1 min read
Dollar coins

USA Dollar coins currency of the United States

The dollar stabilised on Tuesday after weakening against most currencies in earlier trade, as rising optimism that U.S. lawmakers could agree on new stimulus to blunt the economic impact of the coronavirus dampened demand for safer assets.

Risk appetite also improved after U.S. President Donald Trump left hospital and returned to the White House following treatment for COVID-19, a development viewed as reducing political uncertainties in the near term.

The lead taken by Trump’s presidential opponent Joe Biden in polls ahead of next month’s election is also seen as negative for the U.S. currency.

An index which measures the dollar against a basket of currencies was last flat at 93.49. It has fallen around 1% from a two-month high reached at the end of September, in contrast with U.S. equity markets, which rose.

Euro/dollar was also flat at 1.1779. The British pound fell 0.1%, to $1.2967, though hopes of a Brexit deal kept the currency close to $1.30. The dollar was 0.2% weaker versus the Japanese yen at 105.56.

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