Dollar hovers near two-and-half year low, investors eye Brexit talks

07.12.2020 - Korneychuk Evgeniya
Dollar hovers near two-and-half year low, investors eye Brexit talks

The dollar was on the defensive on Monday as lower U.S. jobs data strengthened expectations for a new economic package. Investors on the pound eyed trade talks between the European Union and the United Kingdom.

The dollar index steadied at 90.726 after sinking to a 2 ½-year low of 90.471 on Friday. The euro bought $1.2133, after hitting $1.2177 on Friday, its highest since April 2018.

U.S. jobs data reported non-farm payrolls grew by 245,000 in the previous month, a sign that jobs recovery is losing momentum. However, investors saw this as a sign that Washington will need to pass a new stimulus package soon.

In offshore trade, the yuan traded at 6.5184 against the dollar, just above the 2 ½-high of 6.5070 hit on Friday.

The pound steadied at $1.3422, falling from a 2 ½-year high hit on Friday as investors eye a last-ditch EU-Britain trade talks.

Against the Japanese yen, the dollar stood at 104.20. 

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