London — following a run-off election in Georgia, while oil hit an 11-month high after Saudi Arabia agreed to reduce output more than expected.
“A Democrat-led government is expected to add more stimulus, essentially spend more, to help mitigate the virus crisis,” said Paul Sandhu, head of multi-asset quant solutions, Asia-Pacific, at BNP Paribas Asset Management in Hong Kong. “That means that there’s going to be a weaker dollar.” “History tells us it is much easier to get things done when one party controls everything, as Democrats and Republicans have had difficulties co-operating for at least 30 years,” Danske Bank analysts said in a note.The euro rose to as high as $1.2344, a level last seen in April 2018, while the yen hit a 10-month high of ¥102.57 to the dollar. The dollar hit its lowest in nearly six years against the Swiss franc.World stocks gained 0.
US crude futures rose to a high of $50.24 a barrel before trimming gains, having climbed 4.9% on Tuesday. International benchmark Brent crude futures rose 0.54% to $53.89.
This can't be newsworthy?