Dollar changed vs euro on stimulus deal
The U.S. dollar was little changed against the euro in a volatile session on Wednesday amid news the U.S. Senate and House of Representatives will be able to bridge their differences on economic stimulus plans.
U.S. stocks .DJI rose on the news late in the New York session amid rising risk tolerance, reducing the demand for the dollar as a safe-haven currency.
“We are seeing stocks jump on the stimulus deal and in turn that takes some of the demand for the dollar as a haven off the table a bit,” said Matt Esteve, a foreign exchange trader at Tempus Consulting in Washington. “Having both Senate and House reaching an agreement is obviously a positive for the U.S. economy.”
The dollar was last up 0.2 percent against the yen at 90.45 yen <JPY=> after going as high as 90.75 yen. The euro was last at $1.2893 <EUR=> against the dollar, little changed but off the session low of $1.2834.
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