Dollar index slips but holds near three-week lows; yuan drops

New York (Reuters) – The dollar index was little changed near three-week lows on Monday as optimism over the possibility of a COVID-19 relief bill was curbed by concern over the pandemic, while China’s yuan fell after the People’s Bank of China (PBOC) changed its reserve requirements policy.

FILE PHOTO: Chinese yuan and U.S. dollar banknotes are seen in this illustration taken February 10, 2020. REUTERS/Dado Ruvic/File Photo

On Sunday, the Trump administration called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small-business loan program, as negotiations on a broader package continue to run into roadblocks. A White House spokeswoman said on Monday that Senate Republicans will go along with what Trump wants in legislation.

The greenback has held within a range of about 2% over the past three weeks as talks have gone back and forth. The dollar had its biggest loss

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Gold retreats from three-week high on stronger dollar

By Eileen Soreng

(Reuters) – Gold fell back from a three-week high on Monday as the dollar firmed, although hopes for a new U.S. coronavirus aid package checked the precious metal’s losses.

Spot gold slipped 0.1% to $1,928.06 per ounce by 0329 GMT, after hitting its highest level since Sept. 21 at $1,932.96 earlier in the session. U.S. gold futures were up 0.4% at $1,934.10.

“The dollar index has rebounded slightly, weighing on the precious metal,” said Margaret Yang, a strategist with DailyFx, which covers currency, commodity and index trading.

But, “the technical trend has turned bullish in the near term and very soon it may test the key resistance level of $1,942,” she added.

The dollar index was up 0.1% against rivals, after negotiation on the U.S. stimulus package ran into resistance and as the yuan dropped after China’s central bank took a measure seen as aimed at curbing

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European shares near three-week high on U.S. stimulus hopes


(Reuters) – European stocks resumed gains on Thursday, inching closer to a three-week high on expectations of a targeted U.S. stimulus package as well as positive corporate updates.

The pan-European STOXX 600 index <.STOXX> rose 0.7% by 0707 GMT, with travel and leisure <.SXTP>, industrial <.SXNP> and chemical <.SX4P> sectors leading the gains.

Wall Street indexes surged overnight on signs that talks over aid to the pandemic-ravaged airline industry were progressing in Washington even as U.S. President Donald Trump called off talks on a more comprehensive deal.

Ratos AB <RATOb.ST> jumped 11.3% after U.S. business analytics company Dun & Bradstreet <DNB.N> said it would acquire Europe’s Bisnode from the Swedish private equity

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Junior Business Minister calls for three-week closure of off-licences

JUNIOR Business Minister Robert Troy has told a private Fianna Fáil meeting that off-licences should be closed for three weeks amid concerns over the spread of Covid-19.

His proposal goes further than Government plans to significantly reduced their opening hours in a bid to clamp down on house parties and large social gatherings.

The issue was discussed at Fianna Fáil’s parliamentary party meeting this evening.

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Sources said that Longford-Westmeath TD Mr Troy said off-licences should be closed outright for three weeks.

Dara Calleary did not go as far but said there needs to be a curtailment of discounting and special offers on alcohol in supermarkets.

The Mayo TD is said to have pointed out that it’s hard for small businesses to close while supermarkets engage in the practice.

Major Irish hotel closes temporarily after members of staff test positive for Covid-19

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Dublin South-West’s

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