TOKYO: The dollar came under renewed pressure in Asian trade Monday after grim US data underscored the economic challenges for President Barack Obama’s administration, dealers said.
The dollar slipped to 91.66 yen in Tokyo morning trade from 91.85 late Friday in New York. The euro was stable at 1.2940 dollars from 1.2943 but fell to 118.60 yen from 118.87.
The US Senate was close to voting on a revamped stimulus bill of more than 800 billion dollars as Obama presses for swift action to revive the world’s largest economy. But "basic qualms remain, such as whether it will be enough to boost the economy," said Mitsubishi UFJ Trust and Banking Corp’s chief forex strategist Hideaki Inoue.
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