ALB Limited 12.10.2020
U.S Election Day Effect on Forex Market
An article from Bloomberg in the morning says Goldman also joins UBS & Invesco predicting a weaker dollar. The ICE U.S. Dollar Index has fallen more than 3% so far this year — trading just over the 93 level on Monday — as investors reacted to unprecedented pandemic-related monetary stimulus from the Federal Reserve and rock-bottom interest rates. The gauge traded below 89 in 2018, a level which would imply a further slide of more than 4%.The strategists also suggest buying the euro, Canadian and Australian dollars against the greenback. The firm is keeping open long recommendations for the yuan through unhedged Chinese government bonds.
