Dollar falls after US consumer confidence data

Economies.com
2020-11-24 20:00PM UTC

The US dollar fell against most of its rivals on Tuesday, after the release of weak economic data, while investors shifted to stocks.

 

Stock markets were lifted after President Donald Trump gave the green light for the transition of power to the president-elect Joe Biden's team, which is considered as a main step in Trump's official conceding of the election.

 

The state of Pennsylvania declared Biden the winner in the votes recount, which increased the president-elect's lead over Trump.

 

The Conference Board's consumer confidence index fell to 96.1 points in November vs. 101.4 points in October, missing forecasts of 97.7 points.

 

The dollar index fell against a basket of currencies by 0.3% to 92.2 points as of 19:49 GMT, after it hit a high of 92.5 and a low of 92.1.

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