Dollar is falling again as confidence in the stock market improves and eyes are on the Reserve Board

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The dollar returns to decline as confidence in the stock market improves and eyes are on the Reserve Board, Today, Monday, September 14, 2020 12:15 pm

Attention has been focused on the pound sterling as the British Parliament prepares to debate a draft law that the government acknowledges will violate the terms of the European Union’s separation agreement. The currency rose 0.4 percent against the dollar after posting its worst week since March.

The gains were partly due to a 0.2 percent drop in the dollar index, after rising for two consecutive weeks.

The US Federal Reserve meeting this week will be the first since Chairman Jerome Powell unveiled a policy shift towards more tolerance of high inflation, which in practice means keeping interest rates low for a longer period.

“There will be pressure on the Fed to support the new policy goals with some action,” Lee Hardman, a strategic analyst at Mitsubishi UFJ, said, noting that inflation is still well below target.

The euro rose to $ 1.186, while the yen rose 0.13 percent to about 105.9 yen, its highest level in five days.

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