US dollar declines ahead of Senate runoffs

Tuesday, 05. January 2021 18:15

The United States dollar decreased against several other major currencies on Tuesday, ahead of two Senate runoff elections in Georgia. Wins by both Democratic Party candidates could result in their full control over both chambers of Congress and could lead to the passage of larger economic stimulus measures and additional funding for state and local governments in the future, something US President-elect Joe Biden alluded to yesterday.

The euro advanced 0.39% against the dollar, going for 1.22988 at 12:13 pm ET, while the American currency lost 0.49% compared to the Japanese yen, changing hands for 102.6355 one minute later and landing at a 10-month low. The British pound increased by 0.52% against the greenback, trading at 1.36386 at 12:11 pm ET.

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