Dollar falls to 2-1/2 year low on stimulus bets

2020-11-30 15:06:56 GMT (

The US dollar rose on Monday to its lowest level in two and a half year, deepening its losses for the second straight day, on strong bets for the US Federal Reserve to inject extra monetary stimulus measures during its next meeting, to support the economy amid the worst economic crisis since the 1930s Great Depression.


The dollar index fell 0.2% to the lowest since April 2018 at 91.62 points, after opening at 91.78 points and hitting an intraday high of 91.78 points.


The index lost 0.2% on Friday, posting its third daily loss in 4 days due to improved risk appetite.


The index lost 0.6% during the past week, in its second straight weekly loss, due to weak demand.


The US Federal Reserve is widely expected to take further monetary stimulus measures to support the coronavirus-battered economy, which is currently suffering its worst economic crisis since the 1930s Great Depression.


The greenback's loss during November is 2.4% so far, which will be the first monthly loss in three months and the biggest loss since July.


This came due to a slowdown in demand for the US dollar as the best alternative investment, as the market sentiment strengthened.


The market sentiment improved thanks to positive news about Covid-19 vaccines, chief among these is AstraZeneca's promising vaccine.


While the political tensions eased in the US over the presidential election after a smooth transition of power from the current Republican President Donald Trump to President-elect Joe Biden began.

More News

Risk Disclaimer : Enzious Limited would like to remind you that the data provided in this site is not necessarily in real time or accurate. All stock prices, indices, futures and foreign exchange rates are not provided by exchanges but by market makers, so prices may not be accurate, may differ from the price of the actual market, which means that the quotes represent an indication and are not suitable for commercial purposes. Therefore Enzious Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.