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FOREX-Dollar strengthens as vaccine, stimulus optimism dented

Chuck Mikolajczak
·3 min read

* Euro, sterling fall against dollar * U.S. dollar index up on stimulus, vaccine uncertainty * Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E (Adds details, updates prices; previous LONDON) By Chuck Mikolajczak NEW YORK, Oct 13 (Reuters) - The U.S. dollar strengthened on Tuesday as investors turned cautious after a Johnson & Johnson Covid-19 study was paused while a gauge of inflation rose for a fourth straight month. Major equity averages were lower, partly due to a decline in J&J shares after the company paused due to an unexplained illness in a participant, dampening optimism a vaccine was on the horizon. U.S. consumer prices rose 0.2% in September, matching expectations, for a fourth straight monthly climb, though the pace has slowed amid considerable slack in the economy as it gradually recovers from the COVID-19 recession. The dollar index rose 0.416% against a basket of other currencies, putting it on track for its biggest daily percentage gain in three weeks. The U.S. currency's safe-haven appeal has been curbed by growing expectations former U.S. Vice President Joe Biden's win in the Nov. 3 presidential election would bring large stimulus for the pandemic-hit economy, bolstering the stock market and investor risk appetite. The greenback has held within a range of about 2% over the past three weeks as talks on a fiscal deal have progressed in fits and starts. On Tuesday, U.S. House Speaker Nancy Pelosi said the offer President Donald Trump recently made on a package after he scrapped talks fell far short of what the American people need, but she still hopes a deal can be reached. Sterling was last trading at $1.2987, down 0.59%, after climbing above the $1.30 mark for the first time in a month on Friday as Britain's unemployment rate rose by more than expected to 4.5% in the three months to August. In addition, as a deadline looms, British Prime Minister Boris Johnson told his top cabinet ministers on Tuesday he wanted a free trade deal with the European Union on the right terms but ending the year without one held "no fear." ======================================================== Currency bid prices at 10:29 AM (1429 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.1753 $1.1815 -0.52% +4.83% +1.1815 +1.1742 Dollar/Yen 105.5350 105.3550 +0.21% -2.80% +105.6200 +105.2900 Euro/Yen 124.03 124.40 -0.30% +1.71% +124.4700 +123.9800 Dollar/Swiss 0.9135 0.9092 +0.50% -5.58% +0.9142 +0.9091 Sterling/Dollar 1.2988 1.3066 -0.60% -2.07% +1.3067 +1.2960 Dollar/Canadian 1.3130 1.3109 +0.19% +1.10% +1.3146 +1.3100 Aussie/Dollar 0.7165 0.7211 -0.64% +2.12% +0.7210 +0.7157 Euro/Swiss 1.0734 1.0738 -0.04% -1.09% +1.0745 +1.0726 Euro/Sterling 0.9048 0.9040 +0.09% +7.03% +0.9074 +0.9020 NZ 0.6639 0.6647 -0.18% -1.40% +0.6670 +0.6630 Dollar/Dollar Dollar/Norway 9.2020 9.1545 +0.60% +4.99% +9.2215 +9.1390 Euro/Norway 10.8160 10.7914 +0.23% +9.94% +10.8381 +10.7769 Dollar/Sweden 8.8086 8.7884 -0.33% -5.76% +8.8280 +8.7569 Euro/Sweden 10.3539 10.3884 -0.33% -1.10% +10.4100 +10.3307 (Reporting by Chuck Mikolajczak)