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Dollar increases from two-and-a-half-year-lows, volatile currencies retreat

Published by

March 29, 2025 5:53 AM
(GMT+2)

The dollar increased from a two-and-a-half low on Wednesday as investors assessed the potential of further fiscal stimulus in the US, while a rally in riskier currencies lost momentum.The Chinese yuan got rid of some gains after the New York Times reported that US President-elect Joe Biden will not act straight away to remove the Phase 1 trade agreement President Donald Trump signed with China.Against a bunch of main currencies, the dollar index increased 0.2% at 91.34, off the lowest level since late April 2018 it hit overnight.US Treasury Secretary Steve Mnuchin and House of Representatives Speaker Nancy Pelosi held stimulus talks for the first time since the November 3 election. A bipartisan group of senators and House members proposed $908 billion worth of coronavirus relief measures.

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