This Tuesday morning the safe haven US dollar is retreating versus other major currencies, such as the euro and the pound, as optimism appears to be returning. Investors appear encouraged by the developments in Washington late on Monday, with Democrat lawmakers rallying around President Biden’s $1.9 trillion stimulus plan, increasing the chances of it passing in the Senate. The fizzling-out of fears that last week’s rebellion by Reddit retail traders could cause long-term disruption to financial markets is also supporting risk appetite.
