U.S dollar up, Currency traders focus on U.S election
The U.S. Dollar Index that tracks the greenback against a basket of major currencies was up 0.16%.
The U.S. Dollar Index that tracks the greenback against a basket of major currencies was up 0.16%.
Investors selling out other G7 currencies and increasing their buying pressure on the U.S dollar.
The U.S dollar dropped amid worries about the second wave of COVID-19 caseloads in the emerged markets.
Trading activity in the currency market has been feeble overall, due to a holiday in the U.S.
Anticipation of further stimulus measures to support the U.S. economic recovery has set the greenback into retreat mode.
Investors tilted more towards the dollar as it edged up 0.19% to 93.920 by 4.40 am GMT.
The US dollar index was up 0.23% to trade at 93.977 earlier on Friday.
Amid rising COVID-19 caseloads and other militating factors, the greenback recently surged high.
Currency traders are now adding more bets on the U.S dollar especially against the euro.
The US dollar is stronger this morning on the back of a marked drop in risk appetite in European and ...
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