The dollar gave in to European trade on Wednesday. Vaccine optimism and discussion about further fiscal incentives are burdening demand for safe harbor.
At around 9:55, the dollar index, which represents the dollar against a basket of six other currencies, fell by 0.2% to 91.157, and it reached the lowest level since April 2018.
The euro/USD climbed 0.2% to 1.2081, the highest level in over two years. Germany’s strong retail turnover also contributed to this. Revenues rose by 2.6% compared to the previous month, after a revised 1.9% decline in September.
The USD/JPY increased 0.2% to 104.47, while the risk-sensitive AUD/USD climbed 0.2% to 0.7381.
Optimism about promising vaccines has driven the purchase of more risky currencies at the expense of greenback. Britain was the first country in the world on Wednesday, the Pfizer/BioNTech vaccine. The vaccine could be on the market by next week. This development benefits the most from raw materials currencies. Nor is it surprising that the Canadian dollar reached a new 52-week high in the early trade.
A non-partisan group of US senators and members of the House of Representatives proposed $908 billion on Tuesday.
This bill was stopped by Senate Chairman Mitch McConnell. Since Treasury Secretary Steve Mnuchin and the House of Representatives, Nancy Pelosi, are still expecting an agreement to come to an end.
The chairman of the US Federal Reserve, Jerome Powell, was more careful. He warned at his hearing on Tuesday that the US economy remains in a fragile and unsafe state.
Powell will testify to Congress again later this day, while the Federal Reserve meets its political meeting on December 15 to 16. Today, ADP employment awaits us before the official labour market data is followed on Friday.
The GBP/USD increased 0.2% to 1.3438, which notes near his 3-month wedding vow.
The EU’s Brexit negotiator, Michel Barnier, expects that there may be no agreement by the end of the year.
At around 9:55, the dollar index, which represents the dollar against a basket of six other currencies, fell by 0.2% to 91.157, and it reached the lowest level since April 2018.
The euro/USD climbed 0.2% to 1.2081, the highest level in over two years. Germany’s strong retail turnover also contributed to this. Revenues rose by 2.6% compared to the previous month, after a revised 1.9% decline in September.
The USD/JPY increased 0.2% to 104.47, while the risk-sensitive AUD/USD climbed 0.2% to 0.7381.
Optimism about promising vaccines has driven the purchase of more risky currencies at the expense of greenback. Britain was the first country in the world on Wednesday, the Pfizer/BioNTech vaccine. The vaccine could be on the market by next week. This development benefits the most from raw materials currencies. Nor is it surprising that the Canadian dollar reached a new 52-week high in the early trade.
A non-partisan group of US senators and members of the House of Representatives proposed $908 billion on Tuesday.
This bill was stopped by Senate Chairman Mitch McConnell. Since Treasury Secretary Steve Mnuchin and the House of Representatives, Nancy Pelosi, are still expecting an agreement to come to an end.
The chairman of the US Federal Reserve, Jerome Powell, was more careful. He warned at his hearing on Tuesday that the US economy remains in a fragile and unsafe state.
Powell will testify to Congress again later this day, while the Federal Reserve meets its political meeting on December 15 to 16. Today, ADP employment awaits us before the official labour market data is followed on Friday.
The GBP/USD increased 0.2% to 1.3438, which notes near his 3-month wedding vow.
The EU’s Brexit negotiator, Michel Barnier, expects that there may be no agreement by the end of the year.