- EUR/USD records 40-pips uptick in Asian trading.
- USD trades weak as stimulus bill runs into Trump-wall.
- Virus worries support the USD.
- Traders eye US data.
The US President Trump refused to approve the covid stimulus bill, calling it a “disgrace”.
The market took a cautiously optimistic tone after the development; EUR/USD kept the Asian session gains ahead of the European open. The dollar is trading lower in the day.
Greenback weakness persisted even when the cautious mood was on display in risk assets during the Asian trading, resulting in overall mixed performance in risk assets.
The EUR/USD eyes the economic releases from the US later today along with updates regarding coronavirus.
The US CB Consumer Confidence dropped for a second continuous month to touch a four-month low of 88.6 in December, triggering economic-growth worries and also dragged the greenback lower.
Nevertheless, the worries over the newfound mutant coronavirus in the UK have given a fillip to the US dollar’s safe-haven appeal.
The Brexit-deal talks keep the euro bulls hopeful, even as the holiday season dried up liquidity in the pair and spiked up volatility.
At the time of writing, one Euro buys 1.2176 US dollars, up 0.13% as of 08:21 AM UTC.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
