Dollar was down to its 10-week low as investors bought trade-exposed currencies on expectations that Joe-Biden’s win as the U.S. President will boost world commerce and that monetary policy will remain easy.
Biden won the race by crossing 270 Electoral College votes on Saturday by winning the battleground state of Pennsylvania. Republicans appear to have retained control of the Senate for now.
The prospect of a divided Congress weighs on the expectations of a massive U.S. fiscal stimulus package, which has sent bond yields sharply lower in anticipation of less borrowing and more quantitative easing from the U.S. Federal Reserve.
Volatility was comparatively low as the market had largely reacted on Friday itself and because Donald Trump, the first incumbent to lose a re-election bid in 28 years, has made no sign of conceding.
Market participants are cautious as coronavirus cases surge, with the global count of infections exceeding 50 million on Sunday as cases in the United States surpassed 10 million - stoking worries of more lockdowns.
13 Apr 2021 10:30 AM
Gold was unchanged today as investors kept to the side lines ahead of U.S. inflation data that is projected to shed more light on recovery in the world's largest economy.
13 Apr 2021 07:40 AM
Find out why is the Dollar trading near its 3-week low?
12 Apr 2021 06:35 PM
U.S. stock futures slipped today, signaling a muted opening for major indexes that stand at record highs ahead of a busy week of corporate earnings and economic data.
12 Apr 2021 04:31 PM
Indian equities fell the most in over a month as a rapid surging second wave of the coronavirus across the country acted as the key deterrent to market sentiment.
12 Apr 2021 04:21 PM
The Indian rupee dropped for the sixth consecutive session against the dollar, as a surge in coronavirus cases intensified fears of a delay in economic recovery.
12 Apr 2021 02:54 PM
Pound bounced back from 2 month lows and traded around 1.3750 amid timid US Treasury yields capping Dollar’s gains.