Markets welcome news of US President Donald Trump signing a $ 900 billion coronavirus stimulus bill and government funds into law today.
Three days ago, Trump panicked for Washington after signaling he would not sign and suggested he might veto the bill.
The latest news on the coronavirus stimulus package this morning, brought relief to the market by showing major currency trading rising higher during the Asian session.
The Aussie dollar and the New Zealand dollar rose higher with trading around the 2-and-a-half-year high against the US dollar.
Euro currency trading also took advantage of the strengthening opportunity following the downturn in the greenback dollar following reports on US stimulus packages.
Meanwhile, the UK and the European Union (EU) finally reached an agreement in the Brexit trade talks on Thursday, paving the way for Britain to leave the bloc with an agreement.
The pound, which was initially rising, declined slightly after the announcement that an agreement had been reached. This may be influenced by the ‘buy the rumor, sell the fact’ reaction by investors.
However, the pound sterling is still strengthening around the price level of 1.354000 against the USD in today's Asian session.
On the other hand, the Canadian dollar also strengthened at a 2-year high against the US dollar, supported by positive market sentiment and strengthening world crude oil prices.
