The dollar lost some upward momentum, dipping below the 91 level as a deteriorating labour market cementing expectation of more fiscal stimulus. Recent data showed initial jobless claims rose to a 2-1/2-month high of 853K amid surging coronavirus cases, at a time in which both Democrats and Republicans seem willing to agree on an around $900 billion coronavirus-aid bill. A sharp appreciation of the euro exacerbated this bearish sentiment, with investors cheering fresh stimulus from the ECB and no sign of stemming the single currency’s strength.
Historically, the United States Dollar reached an all time high of 164.72 in February of 1985. United States Dollar - data, forecasts, historical chart - was last updated on December of 2020.
The United States Dollar is expected to trade at 96.06 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 97.33 in 12 months time.