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Senate Republicans Diminish Pandemic Deal

The US dollar index slipped to its lowest point since September, closing 0.40% lower yesterday.

Renewed expectations and uncertainty for additional US fiscal stimulus and a coronavirus vaccine before the year-end weighed heavily on the greenback.

The focus remains on today’s deadline set out by house speaker Pelosi. She remains hopeful, even though she was less than impressed by the White house’s recent $1.8 trillion proposal.

Senate Republicans, however, are raising concerns about the direction of the talks as it could potentially divide the party.

On a positive note, US housing data was upbeat which showed underlying strength in the economy.

EURUSD Back Above 1.18

The euro ended 0.45% higher as the weakened US dollar, once again, boosted the EURUSD pair.

This comes despite ECB President Lagarde stating that the coronavirus resurgence is a ‘clear risk’ to the economic outlook.

Most scientists in the eurozone expected a resurgence closer to th...

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