By Tom Westbrook and Stanley White
SINGAPORE/TOKYO, Oct 1 (Reuters) – The dollar was on the defensive at a one-week low on Thursday, as robust U.S. data and fresh hopes for U.S. fiscal stimulus had investors confident enough about economic recovery prospects to seek out riskier currencies.
Republican President Donald Trump’s administration has proposed a coronavirus stimulus package to House Democrats worth more than $1.5 trillion, and hopes are rising that both parties will reach a compromise.
Along with strong U.S. labour and manufacturing data, that helped stocks to rally, and the mood pulled the dollar to a one-week low of 93.664 against a basket of currencies =USD. MKTS/GLOB
Early in the Asia session, the New Zealand dollar NZD=D3 extended gains to a one-week peak of $0.6635. The Aussie AUD=D3 rose to $0.7183, also the strongest in a week. AUD/
“The two sides have come a long way,”