US Dollar is at weakest point since 2018


US Dollar weaken against basket of major currencies such as British Pound, Euro and Japanesee Yen called ICE USD. Main concern is rapid growth of new Covid cases and its effect on economy. USD is on lowest point since mid of 2018 and is 10,5% down from high in March. Its still much higher than during 2008 world financial crisis and times of recovery. Weak dollar however is not a bad thing for many companies as it will make their exports cheaper and this could hold major US indices higher, plus with most big companies beiing global players it will boost their earnings as companies abroad are operating in their currencies and only at the end of quater it will get converted to USD so their earnings will be higher. (Davies, Wall Street Journal)

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