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Dollar retreats after Biden’s victory amid rising hopes for a stimulus package 09-11-2020

News Date: 9/11/2020 08:47:07

Democrat Joe Biden won the main American elections, after the total number of candidate votes reached 270, and it is said that President Joe Biden and his team are working on a stimulus package to confront the economic effects of the Corona epidemic, especially since the United States of America records more than 10 million cases of infection.


The US dollar also retreated after Joe Biden’s victory, as it opened its weekly session, retreating to its lowest levels, with investors tending to high-risk currencies, to take advantage of Biden’s victory in the US presidential elections, which strengthens their hopes for more generosity in fiscal policy and the continuation of monetary policy. On its current simplified state.

The dollar pair rose against the euro by 0.1%, to hit 1.1889. The dollar also rose against the Japanese yen by 0.1% to record 103.5, while the Australian dollar rose by 0.5%, to trade at a price of 0.729, the highest price it reached in seven weeks.

As for the British currency, the British pound rose 0.2% against the dollar, trading at 1.3184, and recording its highest in more than two months, as the pound enjoys support from the decision of the British Central Bank, which is the decision to increase the size of the stimulus program.


Gold futures contracts rose Monday morning after President Joe Biden won the US presidential elections, rising 0.69% to trade at a price of $ 1.965.15 an ounce.

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