The dollar was seen firm against many currencies on Friday, but traders expect more losses due to diminished hopes for large stimulus to support the economy any time soon on the controversial U.S. presidential election.
Market participants are expecting that Democrat Joe Biden will become the next president but Republicans will retain control of the Senate, which will make it difficult for the Democrats to pass the larger fiscal spending that they have been pushing.
Although Biden maintains a lead over Trump, a few important states are still in the process of vote counting and Trump is mounting legal obstacles to vote counts leading to further uncertainty.
Expectations for less fiscal spending led to a large decline in long-term Treasury yields, combined with a rallying equities and other riskier assets, has placed consistent selling pressure on the dollar that is likely to continue.
18 Jan 2021 05:01 PM
The Chinese economy reported growth in 2020, as it controlled the coronavirus outbreak in the country and positioned itself as the only major country to report economic growth.
18 Jan 2021 04:07 PM
Indian Rupee Versus Dollar Which Ended Stronger Today?
18 Jan 2021 03:59 PM
All Sectors In Red?
18 Jan 2021 02:49 PM
ECB And Italian Politics Pressuring The Euro?
18 Jan 2021 02:33 PM
Pound extended losses and dropped to fresh multi-day lows, around 1.3535 amid the cautious mood benefitting Dollar’s safe-haven status.
18 Jan 2021 12:52 PM
Yen rose as timid U.S. economic data and surging global coronavirus cases kept investors watchful.