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Chinese Yuan Tests 6.5 As PBoC Tightens Liquidity, COVID-19 Vaccine Hopes

The Chinese yuan is extending its months-long rally on Tuesday after breaking the 6.6 threshold against the US dollar. The yuan, which has been one of the best-performing currencies in the aftermath of the coronavirus pandemic, has become an attractive play in foreign exchange markets, especially as policymakers attempt to make the yuan more prominent in international transactions.

Canadian Dollar Rallies Against US Peer Despite Weak Jobs Data

The Canadian dollar today rallied against its US peer as the US Presidential election continued to weigh on the greenback overshadowing the positive jobs data. The USD/CAD currency pair today fell to new 10-week lows as the loonie got an edge against the greenback as Joe Biden secured a significant lead over incumbent President Donald Trump.

Euro Rallies Against Dollar As FOMC Holds Rates and Biden Leads

The euro today rallied against the dollar as the vote-counting in the US Presidential election dragged on slowly as both parties went to court. The EUR/USD currency pair gave up some of its gains during the American session as the dollar hit a bottom and edged higher at the New York open.

Pound Rallies Against Dollar on £150Bln Bank of England Stimulus

The sterling pound today rallied against the dollar after the Bank of England decided to expand its quantitative easing programme by more than expected. The dollar’s overall weakness also boosted the GBP/USD currency pair’s rally as vote-counting in the US Presidential elections showed Biden maintaining his lead.

Aussie Strong After Trade Surplus Widens Beyond Expectations

The Australian dollar was strong today after Australia’s trade surplus rose more than analysts were expecting. But, perhaps, the bigger contributor to the Aussie’s strength was the positive general sentiment on markets. While optimism was not reigning on the Forex market as strongly as on the stock market, with all stock indices logging substantial gains both yesterday and today, most riskier currencies managed to rise during Thursday’s trading session.

Euro Rallies Against Dollar as Biden Maintains US Election Lead

The euro today oscillated between gains and losses as US election officials continue to count votes in the tightly-contested US Presidential elections. The EUR/USD currency pair fell earlier today after President Donald Trump threatened to use the Supreme Court to stop vote-counting in some states.

US Dollar Surges As Trump Threatens Supreme Court Action Over 2020 Election

The US dollar advanced against many of its currency peers on Wednesday as the 2020 presidential election potentially becomes a contested affair. An official result was not announced, and many votes are still being counted in many key battleground states. With the historic race potentially being taken to the Supreme Court, financial markets are not reacting favorably.

Euro Rallies Against the Dollar As the US Elections Unfold

The euro today rallied to new 5-day highs against the US dollar as the US Presidential election day caused the dollar to selloff against other currencies. The EUR/USD currency pair’s rally was driven by the upbeat market sentiment, which also fueled a rally in the equity markets led by the Dow Jones and Nasdaq.

US Dollar Index Edges Higher As Investors Brace for 2020 Election

The US dollar is trading slightly higher against some of its currency peers one day before the 2020 presidential election. Investors are anticipating volatility across the broader financial markets this week, although the consensus on Wall Street is that investment houses desire a clear result for either President Donald Trump or former Vice President Joe Biden. Until then, the uncertainty surrounding Election Day could be […]

Pound Falls to 10-Day Lows on UK COVID-19 Cases, Risk-Off Mood

The Sterling pound today fell to new 10-day lows against the US dollar driven by the risk-off market sentiment amid rising UK coronavirus cases and the ongoing Brexit talks. The GBP/USD currency pair’s decline was also fueled by the resurgent greenback, which benefitted as a safe-haven asset ahead of next week’s US Presidential election.

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