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US Dollar’s Bullish Run to End in Three Months?

Posted Tuesday, October 6, 2020 by
Arslan Butt • 1 min read

According to a recent Reuters poll, the dollar’s recent strength is likely to fade within the next three months and could see high volatility in the coming weeks, ahead of the US presidential election. The US dollar had the best performing month so far this year in September when it gained around 2% of its value.

However, over the course of the year until now, the greenback is down by over 3% against its major peers. Strategists polled by Reuters anticipate that this weakness is unlikely to go away over the course of the coming year.

The first presidential debate of this year’s election season ended up strengthening the value of the reserve currency, but gains remain limited amid expectations for more fiscal stimulus measures. The coronavirus relief package could deter the dollar’s bullishness and weigh on the currency in the near future.

Meanwhile, Trump testing positive for coronavirus appears to be supporting the dollar for now. Strategists also expect the US dollar to make some gains over the rising political uncertainty in the run up to the elections.

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