Dollars in Bad Shape
The dollar disappeared near its lowest level in nearly three years on Thursday after Democrats won control of the U.S. Senate and paved the
way for a major fiscal stimulus under President-elect Joe Biden.To get
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Currency markets were largely uninterrupted by scenes of chaos in
Washington as supporters of outgoing President Donald Trump stormed
Capitol Hill.
Analysts generally assume that a democratically controlled Senate
would be a net positive for economic growth globally and thus for most
risky assets, but negative for bonds and the dollar as the US budget and
trade deficit could widen further.
It was slightly changed at 89,321 in early Asian trading on Thursday
after falling to its lowest level since March 2018 at. 89,206 overnight.
