Dollar Drops to Its Lowest Price in Two And a Half Years

The dollar tumbled to a new level, its lowest in two and a half years, on Wednesday, under the weight of renewed expectations for a US fiscal stimulus.

The market’s appetite for risk increased, bringing the dollar to its lowest level since April 2018, due to a proposed economic stimulus package to mitigate the repercussions of the Coronavirus pandemic, which has bipartisan support unveiled Tuesday worth $ 908 billion, as well as support talks between Treasury Secretary Stephen Mnuchin and Nancy Pelosi, Chair of the Council Representatives.

The euro rose 0.2%% to $ 1.2095, after earlier touching $ 1.2108, its strongest price since April 2018.

The US currency rose 0.2 percent to 104.47 Japanese yen.

The pound fell after news that Britain’s trade agreement with the European Union after leaving it “remains uncertain”, and the pound fell 0.7% to $1.3324.