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The dollar index fell as the pound and euro rallied after Treasury Secretary Steven Mnuchin said lawmakers were close to a bipartisan pre-election stimulus deal. The proposed package was around $1.5 trillion and boosted stock markets and risk currencies.
Expected fiscal stimulus weakens the dollar, which can modestly support dollar-priced commodities. Risk-on sentiment may also support demand expectations, though the effect is indirect.
poundsterlinglive.comJames SkinnerSep 30, 2020After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
