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AMID a short working week in the United States in conjunction with Thanksgiving holiday, the dollar weakened by 0.43% to 91.99 – hitting the lowest level since January 2018 on the back of easing political noises after President Trump accepted that President-elect Joe Biden’s transition into the White House must begin as well as ongoing vaccine optimism.
THE US dollar was traded broadly weaker during the week reviewed, down 0.50% to 92.29 – touching the lowest level since end-August
THE dollar fell 1.61% to 92.53 – the lowest in a week – due to ongoing uncertainties over the election outcome.
RISK aversion dominated globally due to rising coronavirus cases as well as dwindling prospects of US fiscal aid before the US elections. This led investors to flock to the safe-haven dollar – sending the dollar index to a nearly two-week high, up 0.86% to 93.86.
THE dollar continued to decline for the second consecutive week, down 0.25% w/w to 93.61, underpinned by persistent upbeat sentiment in global markets, supporting investors’ risk appetite as investors continue to bet on some form of fiscal aid emerging ahead of the US elections.
The dollar started the week and the final quarter of 2020 on softer footing
THE dollar advanced 1.54% to 93.35, near a two-month high as the risk sentiment dents ahead of the November US elections as well as a continued increase in Covid-19 infections.