Friday, November 20, 2020

The US Dollar Should Fall! Because This Apparently

 The greenback dollar retreated into losses ahead of week-end trading after reports said the US Congress would resume talks on measures to help stimulate the coronavirus.

The dollar index, which measures the greenback's dollar strength against most major currencies, traded lower at 92.29.

Most recently, Senator Chuck Schumer informed that Senate Majority Leader Mitch McConnell has agreed to initiate coronavirus stimulation talks. The seeders welcomed this preaching with a positive return.

This also pushed the euro, pound sterling and other major currencies to wipe out nearly all of the losses registered to end the New York trading session higher than the US dollar.

The Aussie dollar and kiwi dollar were positive at the start of today's Asian session trading around the $ 0.72850 and $ 0.69170 price levels, respectively.

The euro currency was among those that benefited the most from the weakness of the US dollar to trade higher.

Following the restrictions implemented in Europe, the spread of the virus is getting slower and if this area can be contained before the Christmas Day, loosening of the restrictions is possible.

The currency of the pound also extinguished its previous losses even though after the European Union (EU) stopped Brexit negotiations there were members who tested positive for Covid-19.