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THE dollar found support from expectations of a continued economic recovery in the United States amid countries in Europe resorting to lockdowns to fend off a second Covid-19 wave; and expectations of higher government spending under the Biden administration – after a plunge in payrolls in December raised the prospect of more federal spending to aid the coronavirus-battered economy.
THE dollar started the year on a softer footing, continuing its depreciation trend from 2020 and briefly touching a 32-month low.
THE dollar extended its broad-based decline during the week in review, down 0.71% to 89.68 – hitting a fresh 32-month low with the low-volume market trading with a slight dose of risk-on sentiment.
THE dollar took a heavy beating during the week in review, down 1.17% to 90.71 – hitting its lowest level since April 2018.
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.
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