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BRITISH POUND STERLING
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 US markets.
The Fed's message is that policy will remain accommodative, but there is no real appetite for adding to the easing.
Many currency traders believe that the U.S dollar index is showing an oversold signal.
The US dollar is weaker as traders placed a very dovish spin of the Fed shift to inflation targeting.