The dollar is depreciating against a basket of major currencies, driven by optimism about the upcoming coronavirus vaccination and a possible solution to the issue of new stimuli for the US economy.
The ICE dollar index was down 0.52%, close to its lowest level since April 2018. Mass vaccinations in the US are expected to begin this week. Dividing the stimulus package into two parts, proposed by a group of Republican and Democratic representatives, may help find a compromise solution to this issue.
The first installment of $748 billion, which includes financial assistance to small businesses and the unemployed, is expected to be supported by the US Congress. The second part of the $160 billion proposed program remains controversial. It includes aid to state and county governments, as well as funds to protect companies from claims related to the pandemic.
In the second half of Monday, the euro traded at $1.2160, while at the end of Friday it was given $1.2112.