USD Continues Struggling Amid US-China Tensions & Coronavirus
The dollar began the week with a struggle as intensifying US-China tensions added to worries that the coronavirus resurgence in the US could put the recovery in the world’s largest economy on a major hold.
USD had reached its four-months low against the yen, and a whole 22-months trough on the euro yesterday, at $1.1699 - a fall that still continues.
It’s not only about consular closures on both sides in the US-China conflict, and Euro’s recently-added strength, following the European agreement on a fiscal rescue package, however. Experts are also concerned as to US’ next round of fiscal stimulus with a month-end deadline coming up to extend unemployment benefits.
Further, the US job market recovery seems to have stalled recently, while Europe is doing as good as ever.
How does the future look for the greenback? Let’s wait and see.
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