Euro is Suffering On US Stimulus Package And Covid-19

The Euro struggled to rise above the level of $ 1.18 on Tuesday as hopes for a stimulus package to help those affected by Corona in the United States dashed, dealing a blow to high-risk assets globally, as the increase in Coronavirus cases in Europe pressed the single currency.

While markets remain optimistic that talks between House Speaker Nancy Pelosi and Treasury Secretary Stephen Mnuchin will produce an agreement before the presidential elections on November 3, however, any agreement must be approved by the Republican-controlled Senate and where there is still strong opposition to a larger stimulus package.

The Australian dollar fell 0.3% to $ 0.7045, recording its lowest level in three weeks at $ 0.7038, thanks to growing expectations that the country’s central bank will adopt monetary easing measures next month.

The British Pound kept its few gains from the previous session at $ 1.2941.

The dollar index, which measures the performance of the greenback against a basket of currencies, was largely flat at 93.848.