The S&P 500 hit all-time highs amid good employment data.
At the same time, demand for the US dollar jumped very sharply, as a result of which the rate of euro, franc and yen dropped significantly.
The main cause of the improvement in the labor market is the assistance given by both the Fed and the US government. To add to that, COVID-19 incidence in the country has dropped significantly.
The government's new $ 1.5 trillion bailout program is also pushing the market up.
But despite this, buying the dollar is not recommended, as the upward potential is very small. The market is currently at a very high level, so a strong downward correction will most likely occur in the next few days.
The material has been provided by InstaForex Company - www.instaforex.com