Stock rally, U.S. stimulus stalemate keep dollar on defensive

FILE PHOTO: U.S. dollar notes are seen in this November 7, 2016 picture illustration. REUTERS/Dado Ruvic

Analysts note recent equity market resilience - despite rising coronavirus cases, a stalemate in U.S. relief package negotiations, and geopolitical tensions - only works against the dollar.

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The stock market is not the economy.

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Translation: America rules

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