The dollar is still struggling this morning as the prospect of rising infection rates and a suffering economy weigh.
GDP data showed yesterday that the US economy shrank by an annualized 32.9% in the second quarter of 2020. It is the biggest contraction ever, pushing the economy into a recession as the pandemic has caused many businesses to re-close.
President Trump’s tweet suggesting that the US Presidential election could be delayed due to the virus has also put pressure on the greenback and the markets. Top Republicans have since rejected the notion.
