Currency traders today are reaping more profits in risky currencies and bonds after Washington lawmakers chose to continue with the Covid-19 stimulus package.
On Monday, US President Donald Trump signed a $ 2.3 trillion Covid-19 stimulus package that includes government funding and coronavirus assistance to Americans and businesses affected by the Covid-19 pandemic.
In addition, the U.S. House of Representatives has also conducted a referendum expressing support for the triple payment of funds to U.S. citizens from $ 600 to $ 2,000 per person.
The US dollar continued to depreciate by more than 0.5% against major currencies, with the Federal Reserve (Fed) expecting interest rates to remain close to zero in addition to the US economic crisis.
Positive market sentiment with the good development of Brexit negotiations last week has further weakened the US dollar while the European currency has the advantage to rise again.
On the price chart of the EUR / USD pair, it can be seen that the price has shown an increase of 0.46%. The Euro has gained momentum after talks on EU-China trade agreements show good progress.
At the same time the pound sterling has also shown a strengthening to its highest level since May 2018 which is still driven by Brexit sentiment.
