USD continued to slide when President Trump passed the fiscal stimulus package
Tradehay.com: 28/12/2020 - 09:59
The DXY index (a measure of dollar strength) fell along with government bonds after US President Donald Trump approved the fiscal stimulus package, boosting demand for risky assets.
USD weakened after the pandemic relief package was approved
• The DXY continues to weaken after President Trump passed a bill worth 900 billion dollars to support individuals and businesses, government to prevent a partial closure on Tuesday.
• US 10-year bond yield increased by 2 basis points to 0.95%, while the risk-sensitive Australian dollar and New Zealand dollar erased the previous decline amid thin liquidity.
• “Investors are selling USD due to declining demand for holdings following Trump news,” said Vishnu Varathan, head of economics and strategy at Mizuho Bank Ltd. in Singapore said. "The momentum of USD sell-off and the upside momentum of risky assets is back".
• AUD / USD stabilized at 0.7607 after falling 0.2% earlier in the session.
• USD/JPY dropped 0.04% to 103,530 after rising 0.1% last week.
Bloomberg
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