Friday, 16 Oct 2020 05:13 PM MYT
LONDON, Oct 16 ― The dollar paused today but remained on track for its biggest weekly gain in a month amid growing market caution over a global surge in coronavirus cases and fading prospects of a US stimulus package before the November 3 election. Investors will get a further indicator of the health of the US economy with retail sales data due later today. Relief plans remain bogged down in a three-way negotiation between the White House, Senate Republicans and House Democrats.
The greenback hugged a tight range in morning trading in Europe today, with the dollar index last down 0.1 per cent. The euro strengthened slightly, last up 0.1 per cent.“The fight against corona is not a sprint but a marathon and that is becoming increasingly clear on the FX market too,” said Esther Reichelt, FX analyst at Commerzbank, in a note.
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