Dollar falls as progress on U.S. stimulus, Brexit deal boost risk appetite

Dollar falls as progress on U.S. stimulus, Brexit deal boost risk appetite

The dollar sank to new 2 ½-year lows against major peers on Thursday as progress on a U.S. stimulus package and a Brexit trade deal lifted risk appetite at the cost of safer assets.

The dollar index dropped to 89.995 in Asian trade, sinking below 90 for the first time since mid-2018.

The euro stood at $1.2280 in Asian trade, its highest level since April 2018. The pound traded at $1.3536 after climbing to $1.3553 in the previous session.

U.S. congressional negotiators were nearing a $900 billion COVID-19 aid package, said lawmakers and aides on Wednesday.  The EU chief executive said that a trade deal with Britain was near, but success isn’t guaranteed.

The dollar was little changed at 103.475 against the yen. In onshore trade, the yuan stood at 6.5366 and at 6.5089 offshore.

The Swiss franc barely budged from a six-year high of $0.8826 hit on Wednesday. The Aussie traded at 75.940 U.S. cents and the kiwi at 71.41 U.S. cents. 

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