Dollar hits one-month low on U.S. stimulus hopes, yuan rises

21.10.2020 - Evdokimov Roman
Dollar hits one-month low on U.S. stimulus hopes, yuan rises

The dollar fell to a one-month low on Wednesday as optimistic investors about a U.S. stimulus before the election turned to risk currencies. The yuan surged to a two-year high on China’s strong economic recovery.

U.S. President Donald Trump said that he was willing to accept a big stimulus deal despite opposition from Republicans. That raised hopes for a breakthrough in the stimulus talks and lifted the 10-year Treasury yields to a four-month high. 

The dollar index was down 0.1% in Asian trade. The Aussie and the kiwi both rose 0.4%, while the euro rose to a one-month high of $1.1844.

Chinese data showed that the country’s economic growth is accelerating. The yuan climbed 7.6% on the dollar since May and was up 0.2% to 6.6532 on Wednesday. The Japanese yen rose 0.1%.  

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?