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Beaten Down Dollar Back with a Vengeance
The US index capped its fourth positive session as it closed 0.45% higher yesterday. The main significance is that it remained above the psychological 94 handle.
Investors have turned to the currency as a haven during periods of rising financial market volatility.
The US manufacturing sector continued to show signs of recovery in September. It notched the best reading since January 2019.
However, the political instability ahead of this November’s presidential election could mean the greenback is not out of the woods just yet.
Donald Trump yesterday stated that he would refuse to commit to a peaceful transfer of power if he loses the election.
Eurozone Faces the Harsh Truth
The previously surging EURUSD continued its descent on Wednesday, closing 0.38% down.
The pair had earlier this month tested the $1.20 level for the first time in over two years.
Renewed lockdown measures in reaction to rising COVID-19 cases in several European countries hav...
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