Dollar Set for a Weekly Loss – 23 October 2020

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The US Dollar is poised to record a weekly loss against both the Euro and the Japanese Yen as FX players gauge the possibility of a Biden presidency. Also weighing on the greenback is the absence of another stimulus package which would help support US citizens and businesses who have been struggling in the wake of closures and lock downs related to the Coronavirus pandemic. Strategists don’t expect any large movements until after the assessment of the outcome of the US presidential debate. The US Dollar Index was trading at 93.05 .DXY, up 0.11%; the Index is used to gauge the relative weight o…

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