FOREX-Dollar skids to fresh 2-1/2-year low as U.S. stimulus in focus

* U.S. ADP report shows slowing private sector hiring
* Euro hits new 2-1/2-year peak
* Sterling falls on negative Brexit headline
* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E

(Adds comment; updates prices)
By Gertrude Chavez-Dreyfuss and Suzanne Barlyn
NEW YORK, Dec 2 (Reuters) - The dollar sank to a fresh 2-1/2-year low in choppy trading on Wednesday,
weighed down by expectations of further fiscal stimulus for the United States.
The greenback, however, last traded little changed to slightly lower on the day amid wrangling in
Congress over additional coronavirus aid.
Republicans and Democrats in Congress remained unable to reach agreement on more relief for the U.S.
economy on Wednesday, with top Republicans supporting what the Senate's top Democrats dismissed as an
"inadequate, partisan proposal." Treasury Secretary Steven Mnuchin said President Donald Trump supported a proposal put forth by
Republican Majority Leader Mitch McConnell after the latter on Tuesday rejected a $908 billion bipartisan
package.
For months, McConnell has pushed for a $500 billion plan that Democrats rejected as insufficient.
Democratic leaders, however, said on Wednesday a bipartisan coronavirus aid plan should be the basis
for immediate negotiations in the U.S. Congress. "Generally, the theme has been positive and the bipartisan plan gives us a base for further stimulus
talks," said Amo Sahota, executive director at currency advisory firm Klarity FX in San Francisco. "But
quite honestly, I am not convinced by the stimulus plans. I think they're still far away from a deal from
what we can tell," he added.
In afternoon trading, the dollar index was 0.1% lower at 91.115 =USD , after earlier hitting 91.094,
the lowest since late April 2018.
Wednesday's data showing slower U.S. private hiring last month supported some safe-haven buying of the
dollar earlier in the session.
Private payrolls increased by 307,000 jobs in November, the ADP National Employment Report showed,
lower than economists' forecast for a 410,000 rise. Data for October, though, was revised up to show
404,000 jobs added instead of the initially reported 365,000. Analysts said the ADP report, while disappointing, had positive elements.
Adding to the positive risk sentiment was Britain's approval of Pfizer Inc's PFE.N COVID-19 vaccine
on Wednesday, jumping ahead of the rest of the world in the race to begin the most crucial mass
inoculation program in history. The euro, meanwhile, was up 0.2% at $1.2098 EUR=EBS , after earlier hitting $1.2108, the highest
since late April 2018.
The European Central Bank meets next week and analysts said the ECB could act to stem the currency's
rapid rise.
Against the yen, the dollar rose 0.2% to 104.52 JPY=EBS , after the Bank of Japan signaled its
readiness to extend pandemic-response programs. Bitcoin was up 1.6% at $19,061 BTC=BTSP , after hitting a record high of $19,918.01 on Tuesday.
Sterling fell as Britain and the European Union quickly approached a make-or-break moment in trade
talks, with investors uncertain a deal will be reached. GBP/
The pound last traded down 0.5% against the dollar at $1.3361 GBP=D3 .
The risk-sensitive Aussie dollar rose 0.4% versus the greenback to US$0.7402 AUD=D3 as data showed
Australia's economy rebounded more than expected in the third quarter. Currency bid prices at 3:28PM (2028 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index =USD 91.1170 91.1880 -0.07% +0.00% +91.5040 +91.0940
Euro/Dollar EUR=EBS $1.2097 $1.2072 +0.20% +7.90% +1.2109 +1.2040
Dollar/Yen JPY=D3 104.5150 104.3200 +0.23% -3.73% +104.7450 +104.3350
Euro/Yen EURJPY= 126.42 125.91 +0.41% +3.67% +126.5400 +125.7800
Dollar/Swiss CHF=EBS 0.8959 0.8999 -0.43% -7.40% +0.9013 +0.8943
Sterling/Dollar GBP=D3 1.3358 1.3425 -0.48% +0.73% +1.3439 +1.3288
Dollar/Canadian CAD=D3 1.2919 1.2934 -0.12% -0.55% +1.2958 +1.2917
Aussie/Dollar AUD=D3 0.7403 0.7371 +0.44% +5.52% +0.7406 +0.7351
Euro/Swiss EURCHF= 1.0838 1.0858 -0.18% -0.13% +1.0871 +1.0814
Euro/Sterling EURGBP= 0.9052 0.8991 +0.68% +7.07% +0.9085 +0.8987
NZ NZD=D3 0.7056 0.7067 -0.13% +4.89% +0.7083 +0.7032
Dollar/Dollar
Dollar/Norway NOK=D3 8.8020 8.8265 -0.15% +0.47% +8.8940 +8.8000
Euro/Norway EURNOK= 10.6518 10.6250 +0.25% +8.27% +10.7280 +10.6181
Dollar/Sweden SEK= 8.4760 8.4787 +0.28% -9.32% +8.5480 +8.4706
Euro/Sweden EURSEK= 10.2538 10.2256 +0.28% -2.06% +10.2950 +10.2360