FOREX TradingCharts.com

Forex News: U.S. Dollar Drops As Stimulus Optimism Reduces Safe

U.S. Dollar Drops As Stimulus Optimism Reduces Safe Haven Appeal

12/15/2020 - 16:40:00 (RTTNews)

(RTTNews) - The value of the U.S. dollar has moved to the downside over the course of trading on Tuesday, with the U.S. dollar index sliding 0.26 points or 0.3 percent to 90.45.

Currently, the greenback is trading at 103.62 yen compared to the 104.05 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.2159 compared to yesterday's $1.2144.

The drop by the dollar comes as unrelenting optimism lawmakers will eventually agree on a new fiscal stimulus bill reduced the appeal of safe havens.

House Speaker Nancy Pelosi has scheduled a meeting with other congressional leaders to discuss a relief package.

Pelosi is due to meet with Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer and House Minority Leader Kevin McCarthy, while Treasury Secretary Steven Mnuchin will participate by phone.

In a post on Twitter on Monday, Pelosi's Deputy Chief of Staff Drew Hammill noted the Speaker and the Treasury Secretary spoke by phone and "discussed the urgency of the committees finishing their work as soon as possible."

Hammill said Pelosi reiterated Democrats' concerns about liability provisions, which remain an obstacle to securing state and local funding.

The conversation between Pelosi and Mnuchin came as bipartisan group of lawmakers publicly released their latest proposal, which was largely in line with a report from Reuters on Monday.

The proposal calls for a previously unveiled $908 billion bipartisan relief plan to be split into two proposals that could be voted on separately in order to win approval.

One bill would be a $748 billion measure including money for small businesses, the jobless and COVID-19 vaccine distribution, while the other would include more controversial measures such as liability protections for business and aid for state and local governments.

Further reducing the appeal of safe havens, the Federal Reserve released a report showing U.S. industrial production rose by slightly more than expected in the month of November.

The report said industrial production climbed by 0.4 percent in November following a downwardly revised 0.9 percent advance in October.

Economists had expected industrial production to rise by 0.3 percent compared to the 1.1 percent jump originally reported for the previous month.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Mixed After U.S. Retail Sales Data (03 hr(s), 51 min(s), 46 sec(s) ago)
(RTTNews) - The U.S. dollar showed mixed trading against its major counterparts in the European se ...Full Story»

Dollar Little Changed After U.S. Retail Sales Data (05 hr(s), 03 min(s), 46 sec(s) ago)
(RTTNews) - After the release of U.S. retail sales and producer price index for December at 8:30 a ...Full Story»

Dollar Rises Ahead Of U.S. Retail Sales Data (05 hr(s), 06 min(s), 46 sec(s) ago)
(RTTNews) - The U.S. retail sales and producer price index for December are due at 8:30 am ET Frid ...Full Story»

Pound Drops Amid Falling European Shares (06 hr(s), 15 min(s), 46 sec(s) ago)
(RTTNews) - The pound fell against its major counterparts in the European session on Friday, as wo ...Full Story»

Euro Falls Vs Most Majors After ECB Minutes (05 hr(s), 57 min(s), 45 sec(s) ago)
(RTTNews) - The European Central Bank has published the account of the monetary policy meeting of ...Full Story»

Euro Mixed Ahead Of ECB Minutes (06 hr(s), 06 min(s), 46 sec(s) ago)
(RTTNews) - At 7.30 am ET Thursday, the European Central Bank is slated to release the account of ...Full Story»

Indian Rupee Hits 10-day High Against U.S. Dollar (07 hr(s), 09 min(s), 46 sec(s) ago)
(RTTNews) - The Indian rupee strengthened against the U.S. dollar in the evening session on Thursd ...Full Story»

Dollar Higher As Yields Surge On Stimulus Prospects (10 hr(s), 36 min(s), 46 sec(s) ago)
(RTTNews) - The U.S. dollar was higher against its major counterparts in the Asian session on Thur ...Full Story»

Search

FOREX NEWS

Dollar Mixed After U.S. Retail Sales Data

01/15/2021 - 09:42 AM (RTTNews)
(RTTNews) - The U.S. dollar showed mixed trading against its major counterparts in the European se ...Full Story>>

Dollar Little Changed After U.S. Retail Sales Data

01/15/2021 - 08:32 AM (RTTNews)
(RTTNews) - After the release of U.S. retail sales and producer price index for December at 8:30 a ...Full Story>>

Dollar Rises Ahead Of U.S. Retail Sales Data

01/15/2021 - 08:28 AM (RTTNews)
(RTTNews) - The U.S. retail sales and producer price index for December are due at 8:30 am ET Frid ...Full Story>>

Pound Drops Amid Falling European Shares

01/15/2021 - 07:19 AM (RTTNews)
(RTTNews) - The pound fell against its major counterparts in the European session on Friday, as wo ...Full Story>>

Euro Falls Vs Most Majors After ECB Minutes

01/14/2021 - 07:36 AM (RTTNews)
(RTTNews) - The European Central Bank has published the account of the monetary policy meeting of ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.