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Lackluster Job Growth Hits Weary Greenback
The US index closed 0.48% lower on Monday.
Despite reports that further stimulus could be added before next month’s election, the index failed to stay above 94. The Republicans and Democrats will need to act swiftly if there is any hope of a deal before November.
With no vaccination in sight, and more senior officials testing positive in the White House, the dollar continues to feel the pressure.
Gold ended the session higher and erased losses on the back of a weakened dollar. The shift in risk appetite saw the yellow metal finish 0.50% higher on Monday, as it steered clear of the $1900 handle.
EURUSD Attempts the 1.18 Handle
The euro ended yesterday’s session 0.60% higher on the back of positive PMI and retail data.
A weak greenback was also a cause for the gain as the EURUSD pair reached a 2-week high.
However, the eurozone is not out of the woods just yet. Recent restrictions in parts of the continent look to hinder the recovery.
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