Home / Economic Report / Daily Economic Reports / US Dollar is Falling Amid Optimism About Pandemic-Related Aid

US Dollar is Falling Amid Optimism About Pandemic-Related Aid

The dollar was not affected much after US President Donald Trump did not implement his threat to block an aid package for those affected by Covid-19 amid weak trading Monday due to holidays.

The pound sterling hovered below its highest level in two and a half years in Asian trading, after reaching last week a limited trade agreement for the post-Brexit era, which did not include the British financial sector.

The dollar index was little changed at 90.151, after falling for three days.

The pound rose 0.2% to $ 1.3565, heading back to the $ 1.3625 level it reached earlier this month for the first time since May 2018.

Trump signed pandemic aid and government spending totaling $2.3 trillion, to avoid a partial shutdown from Tuesday.

The euro settled at $ 1.2216, near its two-and-a-half-year high of $1.2273, which it touched this month.

The Australian dollar rose to 76.082 US cents, heading towards its highest level in two and a half years also at 76.390 cents, which it reached this month.

The yuan rose 0.1% in overseas transactions to 6.5200 per dollar, and it scored 6.5296 in the domestic market.

The dollar weakened slightly against the Japanese currency, recording 103.455 yen.

Check Also

Sterling Rebounds Following Softer US PCE Data

The Pound Sterling bounces back strongly above 1.3400 against the US Dollar after soft US …