BUSINESS US dollar rises as traders focus on coronavirus stimulus

BUSINESS

US dollar rises as traders focus on coronavirus stimulus

Xinhua

07:11, August 11, 2020

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File photo

NEW YORK, Aug. 10 (Xinhua) -- The U.S. dollar rose in late trading on Monday as market participants eyed fiscal stimulus in the United States amid the COVID-19 crisis.

The dollar index, which measures the greenback against six major peers, increased 0.15 percent at 93.5795.

In late New York trading, the euro decreased to 1.1742 U.S. dollars from 1.1781 dollars in the previous session, and the British pound increased to 1.3068 dollars from 1.3051 U.S. dollars in the previous session. The Australian dollar rose to 0.7151 U.S. dollar from 0.7149 dollar.

The U.S. dollar bought 105.94 Japanese yen, unchanged from the previous session. The U.S. dollar increased to 0.9151 Swiss franc from 0.9133 Swiss franc, and it decreased to 1.3352 Canadian dollars from 1.3385 Canadian dollars.

U.S. President Donald Trump on Saturday signed a series of executive orders to extend certain COVID-19 economic relief after negotiations between Republican and Democratic lawmakers fell apart.

The move has sparked criticism from Democrats, who might challenge the legality of the president's executive action.

Confirmed COVID-19 cases in the United States hit over 5.07 million and fatalities surpassed 163,000 as of Monday afternoon, according to a tally by Johns Hopkins University.

Investors also paid close attention to U.S.-China tensions.

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