The dollar has strengthened against the euro and the pound as a new mutation of the COVID-19 virus means that safe-haven currencies, such as the dollar, are in more demand.
After months of talks, Congress has finally approved a stimulus package to help the US economy. The $900bn relief package was overwhelmingly approved in the Senate and House of Representatives. House Speaker Nancy Pelosi said, “We will do some good with this legislation”, but added, “it’s a first step, and we will need to do more.”
GDP and Consumer Confidence data will be released for the US later today.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
