Transition of Power Boosts Index – 21 January, 2021

As the U.S. elected a new president and the transition of power is underway, the dollar index was 3.7% higher for the week, with expectations that a U.S. stimulus will continue to support global assets. Against a basket of major currencies, the dollar was 0.25% lower, while the Australian dollar was up 0.6%. The euro was 0.7% higher as the European Central Bank president Christine Lagarde warned about an increase in COVID-19 infections. Spot gold was 0.2% lower to $1,865.5 per ounce.