The dollar is weaker against the euro and the pound this morning, as the markets are starting to consider a potential Biden Presidency and the possibility of a US stimulus package. Opinion polls show that Biden’s lead is extending, especially since President Trump is refusing to take part in a virtual TV debate. The Biden team have suggested that a face to face debate could take place a week later.
Talks continue between leader of the Democratic Party, Nancy Pelosi and Treasury Secretary Steven Mnuchin over coronavirus aid plans. It is hoped that a stimulus bill will be agreed soon.
Jobless claims figures released yesterday show that the number of people claiming unemployment benefits rose by 840,000 in the week ending October 3rd, above market expectations of 820,000. However, the 4-week moving average of jobless claims fell to its lowest level since March.
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