Dollar Falling as Democrats Advance The Run-Off Election in Georgia

The dollar rose on Thursday, January 7, hovering above its lowest level in nearly three years, after the Democrats won control of the US Senate, paving the way for a possible greater fiscal stimulus under President-elect Joe Biden.

Currency markets were not affected much by the scenes of chaos in Washington after supporters of outgoing President Donald Trump stormed the headquarters of the US Congress yesterday.

The dollar index rose to more than 89 in early trading in London, but it is not far from its lowest level in overnight trading at 89, a level not seen since March 2018. The Australian dollar fell to more than 77 US cents after touching a three-year high. Almost at 78 on Wednesday.

It fell to about $1 after rising to $1.2349 yesterday for the first time since April 2018. It increased to 103 yen after falling to more than 102 yen yesterday for the first time since March.

But after a decline of nearly 7% in 2020 for the dollar index and a decline of up to 0.9% in the new year, the US currency may catch a breath due to some decline in intense transactions. The yuan largely settled at more than 6 per dollar after the Chinese authorities indicated a desire for a slower pace of gains.

It recorded a new peak of 37,800 dollars today, reinforcing a jump of more than 800% since mid-March. And in the last transactions, it amounted to 37,332 dollars.