NEW YORK: The US dollar was little changed against a basket of currencies on Tuesday, as recent gains driven by dollar bears taking profits ran out of steam and investors looked to Washington for direction as talks on the next round of coronavirus relief aid continued.
After its worst month in a decade in July, the greenback started August on a firm note as some investors trimmed their short positions. But the immediate outlook for the dollar remains tied partly to relief aid talks in Washington and the economic impact of new virus cases in the United States.
Expectations that the US economy's recovery would lag its peers have weighed on the dollar. The dollar index, which measures the currency against a basket of currencies, was about flat at 93.539.
The euro - which gained 5% at the dollar's expense in July - was last down 0.04% at $1.1756. The Aussie dollar was up 0.31% after the Australian central bank held policy steady, as expected.
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