- 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.