The US dollar continued to strengthen on Monday (02/11) evening. Now, investors are waiting the moment of the US presidential election on Tuesday as the soaring number of global covid-19 cases continues to weigh on risk sentiment.
The US dollar index continued to gain 0.14% at 94.172. EUR / USD is down 0.10% to 1.1636 and GBP / USD is down 0.34% to 1.2898. USD / JPY was up 0.09% to 104.73.
The pound weakened on fears of an outbreak of a viral pandemic after British Prime Minister Boris Johnson announced one-month restriction measures across Britain at the end of last week, Reuters reported Monday (02/11) evening.
Investors are getting nervous, turning to the US currency
Many investors are holding on to the US currency, which is often considered safe, as Tuesday’s presidential election made financial markets nervous.
Moreover, investors are also turning to the US currency ahead of the crucial moment in the presidential election in the United States on Tuesday, making financial markets nervous.
Democratic presidential candidate Joe Biden led the vote in national polls. Actually, US President Donald Trump could have the chance to win. By 270 votes needed to win at the state’s Electoral College that determines the overall winner.
The EU and UK Brexit negotiating teams will continue talks in Brussels on Monday until around mid-week.
In Europe, the number of new cases of Covid-19 has more than doubled in five weeks. The total number of infections has surpassed the 10 million mark.
In addition, the three central banks will also announce policy decisions this week. The Reserve Bank of Australia (RBA) meets on Tuesday, while the Bank of England (BOE) and the US Federal Reserve deliver its decision on Thursday.