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US Dollar Drops amid Risk Appetite, Outlook for Stimulus

The US dollar fell against a basket of currencies today as risk appetite on the market limited demand for safety provided by the greenback, while the outlook for stimulus in the United States further damaged the appeal of the US currency.

Yen Gains as Optimism Surrounding Coronavirus Vaccine Wanes

The Japanese yen gained today as optimism about the coronavirus vaccine waned, making safer currencies more appealing to traders.

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.

Euro Falls to 5-Week Lows As ECB’s Lagarde Promises More Stimulus

The euro today fell to 5-week lows against the US dollar after the European Central Bank Governor promised to introduce new stimulus measures next month. The EUR/USD currency pair’s decline was also fueled by the introduction of new lockdown measures in many European countries to curb rising COVID-19 cases.

US Dollar & Japanese Yen Climb amid Risk Aversion

Safe-haven currencies, like the US dollar and the Japanese yen, jumped today as risk aversion was ruling markets. The main themes were the rising number of coronavirus cases in Europe and the upcoming presidential election in the United States.

Euro Falls on Rising Eurozone COVID-19 Cases, Risk-Off Sentiment

The euro today fell against the US dollar as investors sold the single currency amid rising coronavirus cases within the euro area dampening investor sentiment. The EUR/USD currency pair’s decline was further fueled by the stalemate in the US stimulus talks ahead of next week’s Presidential election as equity markets sold off.

EUR/USD Ends Week Higher

EUR/USD ended the week with solid gains. The US dollar was the weakest major currency on the Forex market during the week. The euro, on the other hand, was one of the strongest, ending trading either flat or higher against its most-traded rivals.

Euro Falls on Rising EU Coronavirus Cases and Risk-Off Sentiment

The euro today fell against the US dollar driven the risk-off market sentiment amid rising coronavirus cases in the euro area stoking fears of more lockdowns. The EUR/USD currency pair fell to new 2-week lows as US stimulus talks stall ahead of the November 3 Presidential election as opinion polls place Joe Biden ahead of Trump.

Pound Trades Sideways Against the Dollar, Later Edges Higher

The British pound today traded sideways against the dollar alternating between losses and gains before rallying higher to post gains amid hopes for further UK stimulus measures. The GBP/USD currency pair today rallied to its daily highs after the Chancellor of the Exchequer unveiled measures to directly support British workers.

US Dollar Weak, Ignores Good Inflation Data

The US dollar was among losers today, falling against most other major currencies and trading on par with the weakest of them, like the Japanese yen, the Great Britain pound, and the Canadian dollar. It looked like the release of US inflation data should be the major event on Friday but traders largely ignored it. The report came out better than expected but had hardly any positive impact on the greenback.

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