The dollar held steady on Wednesday as it tipped lower against most currencies after initially jumping after President Donald Trump canceled talks on economic stimulus with Democratic lawmakers in a move boosting demand for safe-haven assets.<\/p>\n\n\n\n
Trump’s sudden decision to suspend stimulus talks until after the Nov. 3 presidential election sparked a sell-off on Wall Street as investors brace for the risks of a new downturn in the already battered US economy.<\/p>\n\n\n\n
In general, analysts said the renewed uncertainty over the stimulus will encourage investors to trade riskier currencies cautiously.<\/p>\n\n\n\n
In early European transactions, the dollar last traded at 1.1754 against the euro, down 0.18%, after rising 0.4% against the single currency in the previous session.<\/p>\n\n\n\n
The pound traded against $ 1.2915, up 0.36%, after falling 0.86% on Tuesday.<\/p>\n\n\n\n
The Australian dollar rose 0.57% to $ 0.7142, after falling more than 1.1% on Tuesday.<\/p>\n\n\n\n
Traders say the Australian dollar faces more downside risks on expectations that the Reserve Bank of Australia’s next move will be to cut interest rates and buy more government debt.<\/p>\n\n\n\n
However, increased risk aversion did not lead to a significant change in the dollar against the yen, as it was most recently traded at 105.75 yen, as analysts say there is a tendency to buy both currencies at uncertain times.<\/p>\n","protected":false},"excerpt":{"rendered":"
The dollar held steady on Wednesday as it tipped lower against most currencies after initially jumping after President Donald Trump canceled talks on economic stimulus with Democratic lawmakers in a move boosting demand for safe-haven assets. Trump’s sudden decision to suspend stimulus talks until after the Nov. 3 presidential election sparked a sell-off on Wall …<\/p>\n","protected":false},"author":9,"featured_media":31215,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[36],"tags":[7211,6877,6882],"class_list":["post-35099","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-currencies","tag-dollar","tag-forex"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=35099"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35099\/revisions"}],"predecessor-version":[{"id":35100,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35099\/revisions\/35100"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31215"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=35099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=35099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=35099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}