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US President-elect Joe Biden presented a draft measures to stimulate the American economy, affected by the consequences of the pandemic. The stimulus package is worth $ 1.9 trillion.
The dollar index rallied after hitting its lowest level since March 2018 last week as the prospect of increased stimulus weighed down on US government bonds, bringing benchmark 10-year Treasury yields to over 1% for the first time since March. Powell said that interest rates will not rise anytime soon. His speech "halted" the dollar's rebound from a three-year low.The dollar climbed to 103.76 yen after falling 0.1% overnight.
Euro fell 0.1% to $ 1.21465 in anticipation of a three-day decline. Aussie dropped 0.1% to hit 77.650 US cents, containing 0.6% gain in the previous session. Oil moved down after gains the day before. In Asia, a barrel of Brent costs $ 56.17. Major currencies are trading in the red against the US dollar. Ruble to be under pressure as Bitcoin has continued to rebound after dropping nearly $ 12,000 from a record $ 42,000 hit last week.
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