Dollar slips, yuan falls as investors hope for Fed support

02.12.2020 - Korneychuk Evgeniya
Dollar slips, yuan falls as investors hope for Fed support

The dollar hovered near a 2-½-year low on Wednesday as traders waited for more U.S. stimulus aid, while risk currencies held onto gains as sentiment improved.

The dollar index slid to 91.19, near its weakest level since April 2018. The euro and the kiwi steadied after rising overnight.

A lower-than-expected U.S. manufacturing activity data and fading hopes for the Federal Reserve to support the economy ahead of an available vaccine also weighed on the dollar.

Against the safe-haven yen, the dollar traded at 104.41. The euro firmed to $1.2071, while the pound stood near a three-month high of 1.3415 against the dollar after reports of progress in Brexit trade talks.

The Aussie firmed at $0.7373 amid Australia’s upbeat economic data. The kiwi steadied at $0.7068. In onshore trade, the yuan stood at 6.8960 against the dollar.

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