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US Dollar Ending 2020 at Year’s Weakest Point
The trade-weighted DXY dollar index hit a new 32-month low today of 89.68, some 13% below the year’s high last March. Overnight losses amounted to 0.8% relative to the Australian dollar and sterling, 0.7% versus the New Zealand dollar, 0.5% against the yen, 0.4% vis-a-vis the Mexican peso, 0.3% against the Canadian dollar, 0.2% versus the euro and 0.1% relative to the Chinese yuan. Britain’s parliament will be voting later today to approve the recent post-Brexit trade arrangement with the European Union. U.S. Senate Majority Leader McConnell prevented a debate and vote on increasing the size of pandemic relief ... (full story)