NEW YORK The U.S. dollar advanced on Monday, rising for a second straight session, bolstered by safe haven bids amid surging coronavirus cases in Europe and the United States as well as a lack of progress on a U.S. stimulus package.
* Nokkie, Aussie dollar losers in G10 space
* Chinese yuan falls vs dollar
* British pound rises vs dollar, euro
* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E
(Adds new comment, FX table, updates prices, changes byline, dateline; previous LONDON)
By Gertrude Chavez-Dreyfuss
NEW YORK, Oct 26 The U.S. dollar gained on Monday, rising for a second straight session,
bolstered by safe haven bids amid surging coronavirus cases in Europe and the United States as well as a
lack of progress on a U.S. stimulus package.
The United States has recorded its highest number of new COVID-19 cases for two consecutive days and
so has France. Spain announced a new state of emergency and Italy has ordered restaurants and bars to shut
by 6 p.m.
On the stimulus front, U.S. House Speaker Nancy Pelosi said on Sunday she expected a White House
response on Monday to the latest relief plan, but there is little evidence a deal is close.
"Skittish investors are scooping up the greenback as virus cases accelerate around the world, stimulus
talks in Washington remain in limbo, and trepidation is on the rise ahead of America's presidential
election," said Joe Manimbo, senior market analyst, at Western Union Business Solutions in Washington.
Media reports that the Oxford/AstraZeneca vaccine has proved successful in elderly people and that
staff at a major British hospital were told to prepare for it as early as next month were not enough to
An index tracking the U.S. dollar against a basket of six major currencies was last up 0.2% at
The euro, which has the largest percentage share of the dollar index, fell 0.3% to $1.1820.
It has slipped earlier by half a percent after the German Ifo business climate index fell for the first
time in six months in October.
The dollar also rose 0.2% against the Japanese yen to 104.95.
Speculators remain short the U.S. dollar, the latest data from the Commodity Futures Trading
Commission showed, though the number of shorting contracts declined in the last couple of weeks.
"What will drive the U.S. dollar this week is the ultimate trend in equities and the steepness of the
U.S. Treasury two-year and 10-year curve," said Stephen Gallo, currency analyst at BMO Capital Markets.
"Firmer equities yield a steeper curve, which yields a weaker dollar."
On Monday, however, the spread between the U.S. two-year and U.S. 10-year notes narrowed to 65 basis
points, after hitting its widest gap since early June.
The U.S. dollar rose 0.5% against the Chinese yuan in the offshore market to 6.703, in a
sign of caution as the Chinese government began discussions on its next five-year plan.
Some other losers included the Norwegian crown and the Australian dollar, as they retreated from last
week's gains driven by traders taking on more risk. Both fell in early European trading, but rebounded
The Aussie dollar was last flat at 0.7138. The crown was down 0.2% at 9.2520 against the
dollar, having seen nearly 1% drop earlier and stabilised against the euro at
The British pound also fell 0.2% against the dollar to $1.3016.
Currency bid prices at 10:15AM (1415 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Euro/Dollar $1.1815 $1.1862 -0.37% +5.41% +1.1859 +1.1804
Dollar/Yen 104.9800 104.8000 +0.14% -3.37% +105.0500 +104.6750
Euro/Yen 124.03 124.19 -0.13% +1.71% +124.2200 +123.7800
Dollar/Swiss 0.9074 0.9040 +0.37% -6.24% +0.9079 +0.9044
Sterling/Dollar 1.3007 1.3039 -0.23% -1.92% +1.3074 +1.2993
Dollar/Canadian 1.3184 1.3124 +0.47% +1.50% +1.3196 +1.3123
Aussie/Dollar 0.7125 0.7137 -0.15% +1.55% +0.7146 +0.7103
Euro/Swiss 1.0720 1.0724 -0.04% -1.22% +1.0728 +1.0708
Euro/Sterling 0.9081 0.9095 -0.15% +7.42% +0.9106 +0.9042
NZ 0.6693 0.6692 +0.03% -0.52% +0.6697 +0.6674
Dollar/Norway 9.2375 9.2205 +0.16% +5.28% +9.3205 +9.2295
Euro/Norway 10.9160 10.9390 -0.21% +10.96% +11.0258 +10.9100
Dollar/Sweden 8.7390 8.7472 -0.40% -6.51% +8.7870 +8.7324
Euro/Sweden 10.3259 10.3677 -0.40% -1.37% +10.3955 +10.3233
(Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Olga Cotaga in London;
Editing by Marguerita Choy)
NEW YORK The S&P 500 and Nasdaq closed modestly higher on Friday in choppy trading, with investors keeping a close eye on negotiations on a U.S. stimulus package that would ease the economic shock caused by the coronavirus pandemic. | Video
* American Express drops as profit falls short of estimates
(Updates to close, adds new comment, Kudlow's remarks on
* Indexes mixed: Dow down 0.33%, S&P 500 up 0.03%, Nasdaq
(Updates to early afternoon, adds new comment, NEW YORK
dateline; changes byline)
NEW YORK Shares on Wall Street ended higher on Thursday in choppy trading, as investors cheered the prospect of more fiscal stimulus to support a pandemic-damaged U.S. economy, with more data pointing to a slowing labor market recovery. | Video
NEW YORK The percentage of workers around the world that is permanently working from home is expected to double in 2021 as productivity has increased during the coronavirus pandemic, according to a survey from U.S.-based Enterprise Technology Research (ETR).
* U.S. House Speaker Pelosi reports progress on stimulus
* Weekly jobless claims dip below 800,000, but remain