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The Dollar Remains On The Back Foot, As The Market Mood Recovers On Vaccine Hopes

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The Dollar Remains On The Back Foot, As The Market Mood Recovers On Vaccine Hopes

September 18
16:54 2020

Belize – Major global stock markets saw a recuperation yesterday but The U.S. Dollar is more fragile, in line with the long long-term bearish trend established following June’s “death cross” in the USD Index. The US dollar has plunged against riskier currencies as hopes for a COVID-19 vaccine and huge corporate deals improved traders’ craving for assets such as the Chinese yuan and the euro.

The US dollar index dipped to 92.910 on Tuesday, slipping further from a one-month high of 93.664 touched last Wednesday, with its low a week ago of 92.695 seen as immediate support.

Since the world is facing tough times and the economy has already witnessed great distress, it seems any news related to the COVID 19 immunization fetches a good opportunity for investors and this euphoria continues to reflected across global stocks, currency, and commodity markets. Such fluctuations can lead to better yield for the investors with the insight and accurate predictions that Vextrader provides to its clients.   

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