Forex

Dollar extends losses despite reported agreement on stimulus package

2020-03-25 19:48:26 GMT (Economies.com)

The US dollar fell against most of its rivals on Wednesday, extending its losses, despite the anticipation of hughe US stimulus package.

 

Informed sources at the White House confirmed that an agreement has been reached with the US Congress on the $2 trillion stimulus aid package.

 

The deadly virus continued to cast a shadow on global markets as more countries continued to announce huge stimulus packages to counter the virus economic impact.

 

Bearing in mind that the US President Donald Trump had stated that he expected the virus will be terminated in his country by Easter in April.

 

This came after the US Treasury Secretary, Steven Mnuchin, assured that the US is able to eliminate the coronavirus and its impact within 12 weeks.

 

The dollar index fell 1% to trade at 101.02 points as of 18:45 GMT, after hitting a high of 101.9 and a low of 100.9.

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