Dollar struggles as U.S. stimulus deadline draws near

Earlier on Tuesday, the Dollar saw slight gains in Europe as traders kept a wary eye on the ongoing political discussions over a potential new U.S. stimulus package.

The Dollar Index, which tracks the Greenback against a basket of six other currencies, inched up by 0.1% to 93.445 at 2:55 AM ET (0655 GMT).

Against the Euro, the Greenback gained 0.1%, trading at $1.1768, while the Japanese Yen slipped by 0.1% to ¥105.53.

The British Pound Sterling remained largely flat at $1.2946, propped up by the EU after signaling that it would stay committed to intensifying talks with the U.K regarding the Brexit deal.

Meanwhile, the Chinese Yuan gained 0.1% higher at ¥6.6839, its lowest since July 2018. 

House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin have “continued to narrow their differences” on Monday, according to a spokesperson.

However, many express doubts that a decision would be made in time on Pelosi’s self-imposed Tuesday deadline.