* EU leaders in
fourth
day of negotiations on
recovery package
* U.S. dollar index
touches 6-week low
* Trump signs off
on plan
to seek $1 trillion
more in virus relief
* Graphic: World FX
rates
in 2020 https://tmsnrt.rs/2RBWI5E
(Updates to
mid-afternoon, changes
byline)
By Chuck
Mikolajczak
NEW YORK, July 20
(Reuters) - T he euro
climbed to its highest
in more than four
months against the
dollar on Monday on
hopes for an imminent
agreement on a recovery
fund for European Union
economies hit by the
COVID-19 pandemic.
The fund is
expected to total
around 750 billion
euros ($857.93
billion), of which 390
billion euros could be
offered as grants.
EU Council
President Charles
Michel said he was
confident his new
proposal to the 27
leaders, which included
390 billion euros of
grants and 360 billion
euros of loans, a
document showed, could
be the basis for a deal
many say is critical to
dispel doubts about the
bloc's very future.
"It is the main
story right now and
there are signs of
progress and that has
been very positive for
risk appetite and that
is why we are seeing
the euro kind of remain
near its recent highs,"
said Edward Moya,
senior market analyst
at Oanda in New York.
Positive news about
a potential COVID-19
vaccine from a trio of
early trials, including
an experimental
coronavirus vaccine
being developed by
AstraZeneca and Oxford
University also added
to overall market
optimism and lifted
currencies that thrive
in times of heightened
risk appetite, such as
the Australian and New
Zealand dollars.
In afternoon
trading, the euro was
last up 0.12% at
$1.1441, after hitting
a more than four-month
high of $1.14675
EUR=EBS .
Analysts said the
smaller the amount of
grants from the EU
fund, the more the euro
would fall.
The U.S. dollar
index USD= fell 0.1%
to 95.826 after sliding
to a six-week low hit
earlier in the session.
U.S. President
Donald Trump signed off
on an effort to seek an
additional $1 trillion
in coronavirus economic
relief, Treasury
Secretary Steve Mnuchin
said on Monday, as
Republicans laid out
their initial proposal
for talks with
Democrats. Still, the U.S.
Congress is bracing for
a battle on the
proposed stimulus bill
that could boost
safe-haven bids for the
dollar. The dollar rose
0.29% versus the
Japanese yen to 107.30
JPY=EBS and was up
0.1% against the Swiss
franc to 0.9393 franc
CHF=EBS .
The Australian and
New Zealand dollars,
however, gained against
the greenback to
US$0.7011 AUD=D3 and
US$0.6571 NZD=D3 .
=======================
=======================
==========
Currency bid prices
at 3:02PM (1902 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar EUR= $1.1439 $1.1426 +0.11% +2.04% +1.1467 +1.1403
Dollar/Yen JPY= 107.3000 106.9900 +0.29% -1.43% +107.5200 +107.0200
Euro/Yen EURJPY= 122.75 122.30 +0.37% +0.66% +122.9700 +122.1900
Dollar/Swiss CHF= 0.9392 0.9384 +0.09% -2.96% +0.9410 +0.9374
Sterling/Dollar GBP= 1.2662 1.2565 +0.77% -4.50% +1.2665 +1.2519
Dollar/Canadian CAD= 1.3534 1.3576 -0.31% +4.22% +1.3600 +1.3525
Australian/Doll AUD= 0.7011 0.6995 +0.23% -0.14% +0.7016 +0.6974
ar
Euro/Swiss EURCHF= 1.0745 1.0723 +0.21% -0.99% +1.0776 +1.0721
Euro/Sterling EURGBP= 0.9033 0.9088 -0.61% +6.85% +0.9138 +0.9032
NZ NZD= 0.6571 0.6556 +0.23% -2.45% +0.6573 +0.6540
Dollar/Dollar
Dollar/Norway NOK= 9.2321 9.2928 -0.65% +5.17% +9.3228 +9.2311
Euro/Norway EURNOK= 10.5622 10.6240 -0.58% +7.36% +10.6353 +10.5567
Dollar/Sweden SEK= 8.9747 9.0334 -0.58% -3.99% +9.0640 +8.9734
Euro/Sweden EURSEK= 10.2683 10.3285 -0.58% -1.92% +10.3395 +10.2690
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