Dollar Index Improved While Treasury Market Marginally Dropped On Friday

    MRAI Stock
    MRAI Stock

    In the U.S. foreign exchange sector, the dollar index ended the week in the green on Friday. On the dollar index, which tests its progress against a basket of six currencies (euro, pound sterling, yen, Swiss franc, Canadian dollar and Swedish krona), the dollar appreciated by 0.1 percent to 92.40 points.

    Since the beginning of November, the dollar however has yielded 1.6 percent in parallel with the return of risk appetite. The euro was marginally lower (-0.1 percent) over the week and on Friday it closed at $1.1856 (-0.14 percent).

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    In the government bond market, rates dropped to a two-week low on Friday in the midst of concerns regarding health benefits. The 10-year T-Bond yield ended at 0.82 percent (-4 basis points), while on 10 November it had hit close to 1 percent, supported by expectations of an anti-Covid vaccine in the face of worsening health situation in the country.

    The Center for Disease Control and Prevention (CDC) advised U.S. citizens on Thursday not to fly for the Thanksgiving holiday, which is usually an opportunity in the United States to reunite with relatives. The CDC suggests wearing a mask and respecting social distances for those who wish to fly anyway.

    Many U.S. states, including New York, Oregon, California, Washington, Michigan, New Jersey and New Mexico, have already introduced new travel restrictions. Among the latest measures is the announcement of curfew in California by the governor in most of the state, among the latest steps. The measure came into effect this Saturday and will last for one month, until 21 December. All “non-essential” travel will be prohibited between 10 p.m. and 5 a.m. in the counties most affected the Covid outbreak.

    In New York City, schools have been closed for an indefinite time since Thursday, with teaching now carried out remotely through the internet. Bars and restaurants in New York State are expected to close at 10 p.m. ever after 13 November. Meanwhile, since November 13, Chicago, the country’s third-largest city, has implemented lockdowns.


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