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Commodity News |
HeadLine : |
Dollar Down Over U.S. Economic Recovery Doubts |
Date : |
Jul 28 2020 |
The U.S. dollar was down in Asia on Tuesday morning, falling to a two-year low over fresh investor concerns about the U.S. economy’s ability to recover from the impact of COVID-19. The number of global COVID-19 deaths shot past the 650,000 mark, while the number of cases is almost at the 16.4 million mark, as of July 28, according to Johns Hopkins University data. The U.S. Dollar Index that tracks the greenback against a basket of other currencies slipped 0.04% to 93.573, continuing its slump from the previous sessions. But after Republicans unveiled details of the latest $1 trillion stimulus package on Monday, investors will see whether Republicans and Democrats can reach a consensus to pass the package before some earlier measures due to expire at the end of the week. The euro, which has been on a meteoric rise ever since the EU reached a deal for a EUR750 billion ($879.549 billion) recovery package the week before, also continues to hit the dollar hard.
Source: Investing.com
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