Tag: Slips

Dollar index slips but holds near 3-week lows; yuan drops

By Chuck Mikolajczak

New York (Reuters) – The dollar index was little changed near three-week lows on Monday as optimism over the possibility of a COVID-19 relief bill was curbed by concern over the pandemic, while China’s yuan fell after the People’s Bank of China (PBOC) changed its reserve requirements policy.

On Sunday, the Trump administration called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small-business loan program, as negotiations on a broader package continue to run into roadblocks. A White House spokeswoman said on Monday that Senate Republicans will go along with what Trump wants in legislation.

The greenback has held within a range of about 2% over the past three weeks as talks have gone back and forth. The dollar had its biggest loss in six weeks on Friday amid rising hopes a fiscal stimulus package would be agreed to stem

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Dollar index slips but holds near three-week lows; yuan drops

New York (Reuters) – The dollar index was little changed near three-week lows on Monday as optimism over the possibility of a COVID-19 relief bill was curbed by concern over the pandemic, while China’s yuan fell after the People’s Bank of China (PBOC) changed its reserve requirements policy.

FILE PHOTO: Chinese yuan and U.S. dollar banknotes are seen in this illustration taken February 10, 2020. REUTERS/Dado Ruvic/File Photo

On Sunday, the Trump administration called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small-business loan program, as negotiations on a broader package continue to run into roadblocks. A White House spokeswoman said on Monday that Senate Republicans will go along with what Trump wants in legislation.

The greenback has held within a range of about 2% over the past three weeks as talks have gone back and forth. The dollar had its biggest loss

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C$ slips to 6-week low as COVID-19 worries bolster greenback

* Canadian dollar weakens 0.4% against the greenback

* Loonie hits a 6-week low at 1.3355

* Price of U.S. oil increases 0.2%

* Canada’s 10-year yield steadies at about 0.560%

TORONTO, Sept 23 (Reuters) – The Canadian dollar fell to a
six-week low against its broadly stronger U.S. counterpart on
Wednesday, as data showed euro zone business growth grinding to
a halt this month and as investors awaited details of Ottawa’s
spending proposals.

The loonie was trading 0.4% lower at 1.3351 to the
greenback, or 74.90 U.S. cents.

The currency touched its weakest intraday level since Aug.
11 at 1.3355, while the safe-haven U.S. dollar clung to
two-month highs against a basket of major currencies as concerns
about a second wave of coronavirus infections in Europe met weak
economic indicators.

Data showed the euro zone’s service industry slamming into
reverse. .

Canadian Prime Minister Justin Trudeau on Wednesday will

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Oil Slips After Best Week Since June Amid Demand Uncertainty

Bloomberg

Nikola Founder Resigns as Chair Amid Allegations, SEC Probe

(Bloomberg) — Nikola Corp., the electric-vehicle startup that recently partnered with General Motors Co., said its founder stepped down as executive chairman, coming just days after the company was reported to be the focus of investigations by U.S. regulators following a highly-critical short-seller report.Trevor Milton, the social-media-savvy public face of the startup he founded in 2014, was replaced by board member Stephen Girsky, whose title will be chairman, Nikola said in a statement late Sunday.The shakeup comes less than two weeks after the Phoenix-based company found itself in the crosshairs of short seller Hindenburg Research, which said Nikola deceived investors about its business prospects — claims that are now the subject of investigations by the U.S. Securities and Exchange Commission and, reportedly, the Department of Justice. On Sunday night, Milton said he planned to defend himself against “false allegations” in

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