U.S. Dollar/British Pound Futures Market News and Commentary
The dollar index (DXY00) this morning is down -0.300 (-0.29%). Dec euro-fx futures (E6Z0) are up +0.0033 (+0.28%), and EUR/USD (^EURUSD) is up +0.0031 (+0.27%). Dec yen futures (J6Z0) are down -0.0009 (-0.09%), and USD/JPY (^USDJPY) is up +0.09 (+0.10%).
The dollar index this morning fell to a 1-week low on reduced liquidity demand as U.S. stocks rally on hopes of further U.S. fiscal stimulus. EUR/USD climbed to a 1-week high on hawkish ECB comments. USD/JPY rose as the yen fell on weaker-than-expected Japanese economic data along with a rally in stocks that curbed the safe-haven demand for the yen.
U.S. stock indexes this morning are pushing higher and are weighing on the dollar with Dec E-Mini S&Ps at a 2-week high on hopes that U.S. lawmakers can finally agree on a new Covid relief package. Optimism improved after House leaders postponed a vote Wednesday on Speaker Pelosi's $2.2 trillion stimulus plan to give Treasury Secretary Mnuchin and House Speaker Pelosi one m... Read more