BREAKING: Dollar is Moving Upwards as Hopes of Federal Reserve's Monetary Stimulus Rise
Investing.com – The dollar was up on Thursday morning in Asia, clawing back gains from earlier losses. The market saw small moves as the number of COVID-19 cases globally continues to rise incessantly, and expectations of further monetary stimulus from the U.S. Federal Reserve begin to grow.
The U.S Dollar Index Futures that tracks the greenback against a basket of other currencies inched up 0.09% to 92.472 by 10:07 PM ET (2:07 AM GMT).
It has been on a downward trend in general, despite stocks also slipping, as the recently released industrial production and retail sales data highlighted the fragility of the U.S. economic recovery.
COVID-19 continues its global rampage, and the increasing number of global cases continues to concern investors.
The U.S. remains in a “severe recession” and growth is vulnerable to swings in infection rates, New York Federal Reserve President John Williams warned on Wednesday. Williams also reiterated that the central bank would use all its tools to help in the economic recovery.
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