Dollar resumes losses on growing odds for US monetary stimulus

2020-07-08 13:11:39 GMT (Economies.com)
Dollar resumes losses on growing odds for US monetary stimulus

The US dollar fell on Wednesday, to resume losses after taking a breather yesterday, to drop near 2-week low, due to growing odds for monetary stimulus in the US, after the recent statements by several Federal Reserve members.

 

The dollar index fell 0.2% to 96.81 points, after opening at 96.99, with an intraday high of 97.05.

 

The greenback gained 0.2%, its first daily gain in 3 days, within its recovery attempts from 2-week low of 96.57 points.

 

Alongside recovery attempts, the US dollar rose on Tuesday as most global stock markets slumped, due to investors' risk-aversion amid the spike in coronavirus infections in the US, and the reemergence of new cases in Australia.

 

Several US Federal Reserve officials have warned from the coronavirus impact on the US economy, which weighs down on consumer spending and the labor market, and will require the Fed to inject more stimulus.

 

These statements boosted the odds for the Fed to expand it stimulus during the second half of this year, to support the world's largest economy from the severe impact of the coronavirus pandemic.

 
 
 
  Symbol Last Change Chg.%
1.1785
0.0075
0.6435%
1.3052
0.0037
0.2828%
Tadawul
7499.97
10.08
0.13%
28.209
3.962
16.340%
41.550
1.115
2.757%
44.64
-0.45
1.00%
2032.160
62.805
3.189%
 
 
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