Dollar strengthens amid stimulus uncertainty

Friday, 25. September 2020 18:06

The US dollar strengthened against major currencies on Friday amid concerns surrounding the coronavirus pandemic, the passage of a next stimulus bill by Congress and broader election uncertainty.

House Democrats are reportedly working on a new version of their coronavirus relief bill as Fed officials continue to call on more fiscal stimulus. However, the bill's fate remains uncertain as the measure is more than double what Republicans offered over the summer.

The euro dropped 0.41% against the dollar at 12:00 pm ET, buying 1.16216. At the same time, the British pound fell 0.29% versus the greenback to go for 1.27070. Meanwhile, the US currency was rose 0.16% compared to the Japanese yen, buying 105.582.

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Breaking the News / JC