Dollar on backfoot as hopes fade for US stimulus deal | Malay Mail

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TOKYO, Aug 13 — The dollar nursed losses against most of its peers on Thursday amid fading hopes for a compromise between Republicans and Democrats over additional economic stimulus. In Asia, the focus was on the Australian dollar ahead of data that is expected to show slowing jobs creation and...

In Asia, the focus was on the Australian dollar ahead of data that is expected to show slowing jobs creation and rising unemployment as a resurgence of the coronavirus rocks the economy. — Reuters pic

The greenback was hampered by a decline in Treasury yields, but analysts say this is likely only a temporary setback because US lawmakers will eventually agree to more stimulus to support economic recovery from the coronavirus. The dollar was quoted at 0.9122 Swiss franc after falling around half a per cent against the safe harbour currency during the previous session.President Donald Trump accused congressional Democrats on Wednesday of not wanting to negotiate over a US coronavirus aid package as top Republican and Democratic negotiators traded blame for a five-day lapse in talks over relief legislation.

 

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