Forex News

Dollar Seems Down and Fights Against Safety of Pandemic Stimulus

Dollar Seems Down and Fights Against Safety of Pandemic Stimulus


The dollar seems down on this Friday morning in Asia that continuing a downward trend that turning the safe-haven assets that surging the number of the global COVID-19 cases and the US congress continuous stall that passing the latest stimulus measures ahead of the presidential election.

The Dollar Index tracks the greenback against the other currencies that seem inched down at the level of 0.03% to 93.832. The dollar saw at the largest weekly rise that gained as 0.8% during the past week.

Europe and the U.K. executed new limitations to check the spread of the infection, and the number of cases in the U.S. likewise rose, with Midwestern states joining a flood of new cases as temperatures drop.

The USD/JPY pair is edged down at the level 0.17% to 105.27 which recorded the yen rise at the level0.2% rise for the week.

The AUD/USD pair edged down at the level 0.17% to 0.7080, losing 2% for the week as speculators are as yet processing timid remarks from the Reserve Bank of Australia. Over the Tasman Sea, the NZD/USD pair edged up to the level 0.05% to 0.6596, with Jacinda Arden broadly expected to win the overall political race occurring on Oct. 17.

The GBP/USD pair edged down 0.19% to 1.2889. Barriers between the European Union (EU) and the U.K. as they arrange their Brexit separate from bargain saw substantial selling in the pound for the time being. U.K. PM Boris Johnson is expected to react to the EU’s interest for the U.K. to make bargains or get ready for trade interruptions under 80 days, after the fact in the day.