Dollar Holding Its Breath For Developments in Trump’s Health and a Financial Package

The dollar index declined slightly on Monday, as it witnessed little change from Friday’s closing, as financial markets await news about the health of US President Donald Trump and the developments in talks regarding financial aid in Washington.

On Friday, Trump announced that he had tested positive for COVID-19, prompting investors to resort to safer assets and sparking a sell-off in the stock market.

But with the start of Asian trading, Trump suddenly appeared in a parade outside the hospital he was receiving treatment, which helped improve the risk appetite.

Doctors treating Trump say he may be discharged today.

Investors are also awaiting the development of talks in Washington about a coronavirus-related rescue package after House Speaker Nancy Pelosi announced on Sunday that progress had been made in the talks.

The dollar fell slightly against a basket of currencies, but its index remained close to recent ranges and fell less than 0.1% on the day to 93.785.

Against the yen, the dollar rose 0.3% to 105.615, recovering from the worst drop in more than a month on Friday.

Riskier currencies strengthened overnight, but their gains were reversed by the time European markets open.

The Australian dollar rose 0.2% to 0.71735, while the New Zealand dollar fell 0.1% to 0.6641.

The Euro rose 0.1% to $ 1.17260.

The Swiss franc, which is considered a safe haven, rose after Japanese technology company NEC said it would buy Swiss financial software company Avaloq Group.

The euro fell against the Swiss franc 0.2 percent to 1.07620.

As for the pound sterling, it hit $ 1.2917 at 0721 GMT, down 0.2% during the day.