The global currency market and Asian stock market are assessing positive developments stemming not from the U.S., but China, according to currency strategist Peter Dragicevich at Corpay Cross-Border Solutions.
Authorities in China are looking to stimulus measures to boost consumption. Over the weekend, a 30-point plan was released that is aimed at bolstering incomes and spending, while stabilizing the property and stock markets, the strategist wrote in a note.
The prospect of more China stimulus, along with fiscal spending by Germany, were supporting sentiment outside the U.S., according to Dragicevich. The U.S. dollar was down 0.3% on Monday, while major Asian stock-market indexes finished higher.
