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Dollar retreats Ahead of Fed Meeting

The dollar index fell by 0.21% yesterday after initially spiking over the 94 handle. However, it could not maintain its grip as the gridlock in the election resulted in a choppy session for the greenback.

The index is also eying today’s Fed interest rate decision ahead of tomorrow’s nonfarm payroll numbers.

The meeting also comes as the US passes 100,000 new cases in a day for the first time.

Will we receive any clarity today with the polling figures?

Devastating Recession Lined Up  

The euro closed slightly higher on Wednesday by 0.10%, as further lockdown measures took effect across Europe.

This comes as the eurozone economy is on course for double-dip recession. Yesterday’s PMI data fell to 46.9 from 48.0 which was the lowest since May, indicating an inevitable slump in business activity.

There was a glimmer of hope on the horizon, as the director of the Oxford Covid-19 vaccine trial has said there is a small chance a jab will be ready before Chr...

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