# Dollar Hits the Ropes, Euro and Pound Rally after Washington Edges toward Stimulus Deal

> 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.

- Date: 2020-09-30 · published 2020-09-30T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/51375-dollar-hits-the-ropes-euro-and-pound-rally-after-washington-edges-toward
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-03-24 | [Dollar falls after Fed QE, on fiscal stimulus hopes](https://feedsoft.ai/events/6583-dollar-falls-after-fed-qe-on-fiscal-stimulus-hopes.md) | -2.3% | -2.4% |
| DXY | 2020-06-16 | [Gold futures rally after Fed pledges to keep interest rates low and sustain stimulus  \| The National](https://feedsoft.ai/events/52521-gold-futures-rally-after-fed-pledges-to-keep-interest-rates-low-and-sustain.md) | -0.2% | -0.5% |
| DXY | 2024-08-27 | [Pound hits two-year high on dollar, gains on euro \| Reuters](https://feedsoft.ai/events/29066-pound-hits-two-year-high-on-dollar-gains-on-euro-reuters.md) | +0.9% | -0.5% |
| DXY | 2017-01-30 | [Euro Exchange Rates Trade Higher Vs Pound, Dollar After Navarro Comments Dent USD](https://feedsoft.ai/events/73192-euro-exchange-rates-trade-higher-vs-pound-dollar-after-navarro-comments-dent-usd.md) | -1.2% | -1.2% |
| DXY | 2024-10-31 | [Euro Outperforms Dollar and Pound After Inflation and GDP Surprises](https://feedsoft.ai/events/28072-euro-outperforms-dollar-and-pound-after-inflation-and-gdp-surprises.md) | +0.7% | +1.4% |

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/usd/14257-u-s-dollar-hits-the-ropes-eur-usd-rallies-after-washington-lawmakers-edge-toward-stimulus-deal

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.