Financial markets started the day in cautious mode amid the lack of relevant news and ahead of the release of US inflation figures. The American Dollar posted a modest intraday comeback but finished the day plummeting to fresh monthly lows against most of its major rivals.the positive tone of US equities and easing government bond yields
The DJIA rallied for a third consecutive day, but the S&P500 and the Nasdaq Composite posted modest gains.would take a couple of days. They could have long-lasting effects on the American dollar, mainly if Democrats are not able to retain control of both houses. Republicans do not need much to seize control of Congress. If that’s the case, they may oppose President Joe Biden’s massive expenses, which would exacerbate the risk of an economic downturn.
GBPUSD benefited from the broad dollar weakness also from Bank of England Chief Economist Huw Pill, who said the central bank has “more to do” on tightening theThe USDJPY pair edged sharply lower, now trading around 145.50. The Japanese cabinet approved a second supplementary budget spending worth 29.1 trillion yen for this fiscal year to fund an economic stimulus package. Meanwhile, AUDUSD hovers around 0.6510 while USDCAD trades in the 1.3420 price zone.