British Pound/U.S. Dollar Futures Market News and Commentary
The dollar index (DXY00) this morning is down -0.359 (-0.37%). Dec euro-fx futures (E6Z0) is up +0.0029 (+0.24%), and EUR/USD (^EURUSD) is up +0.0032 (+0.28%). Dec yen futures (J6Z0) are up +0.0078 (+0.82%), and USD/JPY (^USDJPY) is down -0.95 (-0.90%).
The dollar index this morning is falling for the fourth consecutive session and posted a 1-1/2 month low. Speculation that U.S. lawmakers will pass pandemic stimulus is weighing on the dollar on concern that the additional stimulus spending will explode the U.S. budget deficit. EUR/USD climbed to a 1-month high on dollar weakness and USD/JPY tumbled to a 4-week low on hawkish BOJ comments.
The dollar is falling today on optimism U.S. lawmakers will agree on a Covid relief package. White House Chief of Staff Meadows said today that "the last 24 hours have moved the ball down the field," and the goal is "some kind of stimulus deal in the next 48 hours or so." Treasury Secretary Mnuchin and House Speaker Pelosi are schedul... Read more