The US Dollar is recording modest gains against the Euro during early Monday trading. After hitting a two year low last week, the Dollar Index has since rebounded, albeit not significantly. The pause in the greenback’s decline was due to technical factors rather than a change in the circumstances that dictated the sharp losses of the last few weeks. The general trend for the American currency continues to be one of decline, with the COVID pandemic out of control in several states, dampening hopes of a quick economic recovery, forcing the Fed to maintain its accommodative stance and diminishing the appeal of Dollar denominated assets.
