Dollar pares losses as Senate’s McConnell vague on further stimulus

The dollar pared losses on Tuesday after earlier reaching a more than two-year low against the euro, but remained lower on the day as investors weighed whether an increase in U.S. fiscal stimulus is likely. U.S. Senate Majority Leader Mitch McConnell on Tuesday blocked immediate consideration of a measure to increase COVID-19 relief payments to $2,000. He suggested the Senate would at least examine the issue. “This just really delays the inevitable,” said Edward Moya, senior market analyst at OANDA in New York. “With the Biden administration coming into place you’re going to have expectations that we’re … (full story)

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