Trump Transition Agreement Helps Boost Risk Currencies – 23 November, 2020

The acceptance of U.S. President Trump for the start of a transition of power to the Biden administration help risk-sensitive currencies rise. The Australian dollar was up 0.4% to $0.7313, while the New Zealand dollar was up as much as 0.9% to a two-year high to $0.6985. Against the yen, the dollar was trading at 104.49 per dollar after a 0.6% dip in overnight trading. The euro also softened against the dollar to $1.1844, while the dollar index strengthened from a two month low to 92.463. After hitting a high of $1.3396 on Monday, the pound dipped slightly lower at $1.3330. It stood near a six month high against the euro at 0.8887.