The US Dollar Slips Under Pressure

27/11/2020

The USD is trading under pressure across the board as a result of upbeat data from China and losses in US stock futures.

The USD fell against a basket of currencies. Investors are foreseeing a stimulus package from Biden and a quantitative easing policy.
 
The support of 92.11 has been broken again and is gradually drifting towards the next level, which is 90.39.
 



The AUD could register mild gains only. The beginning of Biden’s transition, positive vaccine news, and Janet Yellen’s new appointment are adding momentum to the Australian dollar.
 
The GBP could not make much gains taking advantage of the US dollar tailspin. The news about a Brexit deal not happening before the weekend pushed the GBP by 0.2% against the USD.
 
The EURUSD still manages to hold above 1.1900, but if the risk aversion worsens in Europe, these marginal gains may vanish into thin air.

Cookie Policy: The Axiory website uses cookies and by continuing using the website you consent to this. Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please read the full Privacy Policy.