From Gina Lee
Investing.com – The dollar was down in Asia on Friday morning, and the euro was hovering near a four-week low against the dollar on indications from the European Central Bank (ECB) that it had another monetary policy by the end of the year Easing could introduce year.
The greenback against a basket of other currencies fell 0.15% to 93.838 at 10:39 p.m. ET (2:39 p.m. GMT) after rising to nearly four-week highs in the previous session on the euro decline.
The pair fell 0.15% to 104.45. A rebound in US Treasury bond yields and a broad buy in US dollars pushed the greenback higher from a five-week low overnight.
The pair rose 0.33% to 0.7051 and the pair rose 0.05% to 0.6634.
The pair fell 0.34% to 6.6914.
The pair was up 0.07% to 1.2936. The UK and the European Union (EU) continue to work to reach a post-Brexit trade deal by the end of the year.
The ECB announced its monetary policy on Thursday, keeping interest rates stable but committed to working on a response to the second wave of COIVD-19 cases in the region and meeting investor expectations by its December meeting.
"We all agreed that it is necessary to take action at our next meeting of the Governing Council and therefore recalibrate our instruments," said ECB President Christine Lagarde.
“The euro area economy is deteriorating faster than expected, and some believe that easing monetary policy will not be enough to lift the euro area or that it will be too late (in December). Such reactions have likely put pressure on the euro to fall, ”Masuhumi Yamamoto, chief currency strategist at Mizuho Securities, told Reuters, adding that the euro is unlikely to rise in the near future.
A forecast for the report released Thursday showed a 33.1% quarter-over-quarter increase, the fastest pace since records began in 1947. Separate data showed that the week ended October 24, 791,000 claims were made from the previous week .
Although the dollar was on track to book its second monthly gains, uncertainty over the November 3rd US presidential election and concerns over the rising number of COVID-19 cases limited gains.
The number of worldwide cases surged over 500,000 for the first time, and France and Germany will begin government-mandated bans on Friday and Monday, respectively. The US also reported rising cases in 47 of the country's 50 states.
Investors are now waiting for data to be released later in the day, including the EU data, and while the US across the Atlantic will be releasing data on personal consumption and personal expenses, as well as data for September.
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