Dollar weakens as U.S. stimulus impasse undermines

WorldNews

Published

NEW YORK — The dollar fell from a one-week high on Wednesday, as political squabbling over a stimulus package for the U.S. economy halted its recent rebound. The greenback, however, rose to a three-week peak against the yen, climbing for a fourth straight session. The dollar/yen pair typically moves in tandem with U.S. Treasury yields, with the 10-year advancing to a one-month high earlier in the session. Stronger-than-expected U.S. CPI numbers, meanwhile, briefly lifted the dollar against a basket of currencies. Data showed the U.S. consumer price index rose 0.6% last month after rebounding 0.6% in June. Excluding the volatile food and energy components, the CPI jumped 0.6% last...

Full Article