Monday 27th July 2020

The US dollar lost a lot of ground last week as Congress argued over the shape and form of the next recovery package. NAB’s Rodrigo Catril says hopefully there will be some agreement on the continuation of the supplementary unemployment benefit. But that’s not the only influence on the weaker mighty dollar – tensions are ratcheting up with China, with an arrest of a researcher allegedly acting on behalf of the Chinese military, and COVID-19 cases continue to rise. The Aussie dollar could lose some of its shine on COVID news too, with the number of cases in Victoria continuing to rise over the weekend.