Risk appetite improved after Monday, when markets were reeling from country restrictions to contain the spread of the new coronavirus mutation, and after the US Senator Joe Manchin said he would not support a new Democratic government spending bill.
“The dollar is weakening as risk reduction operations continue to decline”analysts at Brown Brothers Harriman said Wednesday, adding that “We are likely to be in a consolidation period for now, given the lack of important new aspects to build momentum.”
The dollar was down 0.19% against a basket of currencies at 96.257 units.
Data released Wednesday indicated that US economic growth slowed dramatically in the third quarter amid an outbreak of Covid-19 infectionsBut activity has since recovered, putting the economy on track to post its best performance this year since 1984.
Meanwhile, the euro was trading 0.18% higher at $ 1.1310, and the Australian dollar – a currency sensitive to risk aversion – was up 0.59% at $ 0.7196.
Source From: Ambito
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