Dollar Strengthened While Euro, GBP Weakened Amid Worsening Health Situation In Europe, Airlines’ Shares Also Dropped

On Monday, the dollar index, which tests its evolution against a basket of six currencies (the euro, the pound sterling, the yen, the Swiss franc, the Canadian dollar and the Swedish krona) rose by 0.2% to 90.04 points, as the U.S. Congress, fearing Britain-like situation,  is now seems to be deciding early upon a new fiscal stimulus package. On the other hand, Euro fell by 0.38% to $1.2216 on the day largely because of overall health situation in Europe. The yield on the 10-year T-Bond remained steady at 0.941 percent in the U.S. government bond market.

With the surge in new coronavirus variant in the United Kingdom with many European countries closing their borders for at least 48 hours and others stopping flights to and from the country, Sterling weakened by -1.24 percent to $1.3402 on Monday on the currency markets seeing Brexit deal becoming more complicated.

After the announcements of the closing of the borders with London, stocks of several airlines declined. Shares of American Airlines Group Inc. (AAL) lost grounds by -2.48 percent to $16.10, Delta Air Lines Inc (DAL) by -1.33 percent to $40.14 while those of United Airlines Holdings, Inc. (UAL) plummeted -1.53 percent to $44.06 at ring of the bell.

Microsoft Corporation (MSFT) succeeded to rose by 1.83 percent to $222.59 on the day for its own-chip plans. The software and cloud computing giant, following the strategy adopted by Apple Inc to minimize its dependency on Intel, is reportedly creating its own chips for cloud computing servers and its Surface laptop lineups. Since silicon is an important part of technology, we continue to invest in our own capabilities in areas such as design, manufacturing and equipment, while cultivating and expanding partnerships with a wide range of suppliers of chips, said Frank Shaw, spokesman for Microsoft. In recent years, Microsoft has also increased its recruitment of engineers from major chip manufacturers such as Intel, Advanced Micro Devices and Navidia, which shows MSFT’s commitment to chip development.

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