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NEW YORK (Reuters) - 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.
FILE PHOTO: A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao
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.