Dollar down amid financial market variations

Dollar down amid financial market variations

The Dollar stabilized on Tuesday as COVID-19 cases are increasing rapidly, and uncertainty on the stimulus bill fabricates the confusion among investors. Moreover, traders were also carefully looking forward to the Federal Reserve’s review later in the week.

GBP/USD volatility is lowest since March seen at 7.465%, hits a low of 7.225% on Jan 22, according to data source Reuters.

Prime Minister Boris Johnson mentioned on Friday about the new variant of COVID-19 that might increase the death rate. Meanwhile, the U.K. Government has extended the lockdown closing all the public areas and prohibiting social gatherings till July 17.

The Euro is hovered and failed to break resistance around $1.2190, swiped by edge nightly to $1.2142.

The Japanese Yen likewise maintain the balance at 103.76 per dollar, however, the riskier currencies AUD and NZD remain calm by the verge.

The U.S. is due to release multiple economic data throughout the week which includes fourth-quarter GDP. The economic recovery of the nation has slow down which could be mentioned in the data. The fight against the surging cases of coronavirus makes the economy more miserable.