The dollar has come off the boil after rallying during the New York afternoon when President Trump abruptly called off talks with the Democrats on further fiscal aid until after the election. This catalysed a bout of risk-off positioning, which featured dollar and yen buying in currency markets. Trump subsequently tweeted that he is ready to approve support for airlines (totalling $25 bln), wage protection ($135 bln) and a $1,200 stimulus check, which helped revive spirits in markets to a degree, which saw the dollar lose upside traction and the yen soften.

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