⁍ The dollar fell to three-week lows on Friday as optimism that a deal for new U.S. stimulus would be reached.

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⁍ As investors bet that Democrat Joe Biden is more likely to win the U.S. presidency and offer a larger economic package.

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⁍ The dollar index against a basket of major currencies =USD fell 0.34% to 93.23, the lowest since September 21.

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– The dollar fell to a three-week low against a basket of major currencies on Friday as optimism that a deal for new US stimulus would be reached and as investors bet that Democrat Joe Biden is more likely to win the US presidency and offer a larger economic package. After stalling talks with Democrats on a comprehensive aid package earlier this week, President Trump on Thursday called for a ‘skinny’ relief bill that would include elements such as direct payments and a bailout of the struggling airline sector, reports Reuters. Senate Majority Leader Mitch McConnell said another rescue package was needed but noted ‘vast differences’ over costs. House of Representatives Speaker Nancy Pelosi said legislation to help airline companies could only move through Congress with guarantees that a comprehensive aid bill would be developed too. “It seems like, at least in the White House, there is more of a sense of urgency that it needs to be done,’ said Bipan Rai, North American head of FX strategy at CIBC Capital Markets in Toronto. However, “the key question for us is whether or not the Senate Republicans are going to go with it … they don’t seem to be united.’ ‘I think we’re more or less in a standstill until we get some more clarity on whether or not this stimulus package is going to go through,’ Rai said.