Stimulus Uncertainty Causes Dollar To Dip – 22 July, 2020

The dollar was lower against most currencies as U.S. lawmakers struggle to come up with a plan regarding additional stimulus measures. Across the ocean, European Union leaders reached a consensus over their next round of stimulus relief, helping the euro climb to a one year high. The dollar traded just above a six-week low against the British pound at $1.2719, while it dropped to 0.9315 Swiss franc, its lowest since March. The greenback was steady against the yen at 106.85 yen. The euro last traded at $1.1538 after touching its highest since January and was steady against the pound at 90.70 pence. The onshore yuan was up to 6.9646 per dollar, its strongest since mid March. The Australian dollar was close to a April 2019 high trading at $0.7144, and the New Zealand dollar edge slightly higher to $0.6649.