Dollar advances

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    TOKYO- The dollar inched up as riskier currencies slipped after negotiation on a US stimulus package ran into resistance and as the yuan dropped after China’s central bank took a measure seen as aimed at curbing its strength.

    The euro slipped 0.15 percent to $1.1818 while the Australian dollar shed 0.25 percent to $0.7223.

    The yen was little changed at 105.65 to the dollar.

    The US dollar index edged up to 93.104, bouncing back from Friday’s near-three-week low of 92.997. The index saw its biggest loss in six weeks on Friday on hopes that a deal for new US stimulus would be reached.

    President Donald Trump on Friday offered a $1.8 trillion coronavirus relief package in talks with House Speaker Nancy Pelosi – moving closer to Pelosi’s $2.2 trillion proposal.

    But Trump’s offer drew criticism from several Senate Republicans, many of whom are uneasy about the nation’s growing debt and concerned a deal would cost Republicans support in the upcoming presidential election, denting the risk-on mood.

    Still, with Nov. 3 election only weeks away, investors bet that Democrat Joe Biden is more likely to win the US presidency and offer a larger economic package.