January 22, 2018 / 5:52 PM / in 6 months

Dollar pares losses on news of deal to end U.S. government shutdown

NEW YORK (Reuters) - The dollar pared losses against a basket of currencies on Monday, after news that Republican leaders in the U.S. Senate had rounded up enough votes to move a stopgap funding bill that would end a government shutdown.

FILE PHOTO: The image of the first U.S. President George Washington on a dollar bill is seen in a photo illustration in Toronto October 15, 2014. REUTERS/Chris Helgren/File Photo

The U.S. government shutdown took effect at midnight on Friday after Democrats and Republicans failed to agree on a last-minute deal to fund government operations.

On Monday, Democratic Senate leader Chuck Schumer said the government would reopen in a “few hours.”

The dollar index .DXY, which tracks the greenback against six major currencies, was down 0.04 percent to 90.538, after falling as low as 90.155 earlier in the session.

The greenback jumped to a four-day high of 111.22 yen against the Japanese currency.

Reporting by Saqib Iqbal AhmedEditing by Chizu Nomiyama

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