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Conflict in the U.S. Congress

Conflict in the U.S. Congress | 30 December 2020

30 December 2020, USD/JPY

Conflict in the U.S. Congress

USDJPY trading plan:

U.S. Senate Majority Leader Mitch McConnell blocked immediate consideration of a measure to increase COVID-19 relief payments to $2,000, adding another twist to fractious negotiations over fiscal stimulus. While the size of relief payments is still uncertain, many analysts say the dollar is likely to weaken further next year because President-elect Joe Biden is expected to push for even more economic support measures. The dollar index against a basket of six major currencies skidded to 89.711, the lowest in more than two years.

Investment idea: Sell 103.44 and take profit 103.14.

David Johnson
Analyst of «FreshForex» company
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