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ForexLive Asia FX news wrap: The transition to the Biden Presidency has begun – ForexLive


Forex news for Asia trading
for Tuesday 24
November 2020 

In early Asian trade the US
authority (the General
Services Administration) responsible
for beginning the formal transition to the new Biden presidency
finally acknowledged his win and set in motion the initial
protocols. Almost immediately after Trump tweeted his recommendation
the GSA do just that. The news added to the better sentiment evident
on Monday US time from improving vaccine developments and gave
further support to risk FX and US equity index futures (trading
‘overnight’ on Globex).

Once
again the kiwi $ has been best on ground amongst the majors. The NZD
was spurred further by the NZ government saying it wanted the RBNZ to
add a house-price ‘remit’ (ie to stop prices rising so rapidly).
It would be remiss to mention worst on ground alongside … gold
dropped further , towards $US1820.

AUD
was dragged up a little with the NZD (AUD/NZD sellers ensured the AUD
rise was not as extended). GBP, EUR, yen, CHF have all done very
little against the USD while CAD has gained alongside oil. 

Trump’s tweets, this may be the closest he gets to a concession?

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