Major currency trading remained high as markets entered the European session following the depreciation of the US dollar after US President Donald Trump signed a coronavirus stimulus package today.
Trump has finally signed a $ 2.3 trillion stimulus package that includes government funding and coronavirus assistance to Americans and businesses affected by the coronavirus pandemic.
This has supported the euro trade to rise further following the depreciation of the US dollar, as well as the good news that the coronavirus immunization process in Europe has begun on Sunday.
In addition, the pound remained strong around its 2-and-a-half-year high, but exhibited relatively limited movement following market concerns over the continued rise in coronavirus cases in the UK.
On Sunday, a total of 30,501 cases were recorded in the UK. Adding to the concern is when hospitals in some areas of the country warn that they are increasingly burdened.
Last week, the UK and the European Union (EU) reached an agreement on post-Brexit trade agreement negotiations. The market is now waiting for the UK and EU Parliaments to approve the deal.
The Aussie and New Zealand dollars also took advantage of the positive sentiment in the market by rising higher, approaching the latest 2 and a half year high reached 2 weeks ago.
