US Dollar Performance Continues to Drop Lower - Market Takes Precaution

 The US dollar still posted a less encouraging performance on Wednesday and shrank to its lowest level in a week due to tighter economic restrictions across the United States and Europe. During the same period, the announcement of a vaccine that has a higher level of order has raised market expectations.


The Pfizer company and BioNTech reported on Wednesday that their latest data analysis found that their Covid-19 vaccine has 95% success in preventing Covid-19.


The report did little to affect the US dollar due to market players' hesitation about the Fed's draft monetary stimulus. The chairman of the Fed, Jerome Powell has made clear that much more needs to be done to restore the economy. Coupled with retail sales that are less than the analyzers' reach.


The US dollar index, which measures the green back against the main currency, lost 0.1% to 92,327 at 9.40 p.m.


The euro currency continued to claim the exchange rate of $ 1,186 despite the issue of Poland and Hungary's denial of the EU stimulus package which amounted to $ 2.14 trillion.



On the issue of Brexit, UK Trade Setiausaha Alok Sharma said Britain hopes to enter into a Brexit trade agreement but the EU must understand that they are dealing with a sovereign state.


Meanwhile, UK inflation rates showed a pick-up in October, driven by higher prices for clothing and food as well as tightening of the coronavirus barrier in many regions.


The Matawang pound continues to climb higher towards the latest high level of 1.3272 against the US dollar. When Matawang Cad recorded confirmation in proportion to US dollars.


Canada's User Price Index (CPI) reading increased to 0.4% in October from the -0.1% reading recorded in September. Meanwhile, core inflation, excluding food and energy prices was unchanged at 1% a year in October.