The Washington Independent
The Washington Independent

How the dollar performed before and after Biden's inauguration

How the dollar performed before and after Biden's inauguration

Dollar's performance since Biden's inauguration

Gordon Dickerson
Last updated: Mar 04, 2021 | Feb 06, 2021

Table of Contents

2020 was a tough year for the dollar, not to mention many other leading currencies. The COVID-19 pandemic sent the world’s markets into free fall at the end of Q1, impacting stocks, commodities, securities, and foreign exchange. Subsequent lockdowns, manufacturing slowdowns, and even the value of oil falling into the negative for the first time in history, all left their mark. While the pandemic is far from over, things, thankfully are looking up.

The beginning of vaccinations against the virus at the end of December, coupled with the adaptation of many countries to the ‘new normal’, led to an increase in investor confidence, and a semblance of stability.

Aside from the pandemic, one of the biggest factors impacting the dollar and the performance of US stocks was, of course, the 2020 presidential elections.

Before Biden’s inauguration


Elections are always a time of great uncertainty and political events are known for impacting the performance of currencies. The 2020 elections were no exception.

Prior to the elections, the dollar was performing well, all things considered. It rose to a four-week high on the Friday prior to the polls opening. This led to investors moving to buy up dollars, fearing a contested election and further uncertainty over the pandemic. On the other hand, the euro fell to a four-week low. Analysts predicted that a Biden win would lead to more stabilization of the dollar and an increase in the value of the euro.

These fluctuations throughout November and December led to an increase in the number of people looking to trade forex. This followed the 2020 trend which saw significant increases in the number of accounts being opened. Most of these newbies were unsure of how to use forex, but were keen to leverage price movements in the markets. These new traders would start by reviewing online literature, seeking explanations on how to trade, certain strategies, and also getting a grip of current events - all of which, is key.

However, as Biden’s inauguration approached, the dollar continued to rise. As of 18 January, the dollar surged as a response to his proposal for a $1.9 trillion stimulus deal. This was bad news for the euro and other currencies like the Australian dollar, which struggled as a result.

After Biden’s inauguration

Following Biden’s inauguration, the dollar immediately weakened. It declined 0.2% for three days in a row after hitting its four weeks high the previous Monday. This was attributed to fears over the US’s twin deficits, additional borrowing to pay for the stimulus, and an expected increase in the number of unemployed people in the US.

Stocks, however, increased, reaching all-time highs on his swearing-in day. They continued to rise over the following days as Biden got to work making decisions and repealing decisions of the Trump administration.

The performance of the dollar will very much depend on the success of COVID-19 vaccinations and the ongoing management of the crisis. Furthermore, Biden's ability to stabilize unemployment and support businesses, will also likely impact how the dollar behaves over the coming months.

Gordon Dickerson | Gordon Dickerson is the founder of J.C.H, a one-person company that helps employers with resumes, cover letters, bios, LinkedIn profiles, and other employment-related documents. John also provides career coaching and advice on how to follow up on resumes, and he will also link clients with recruiters in their field. Gordon 's inherent passion for working with people and counseling them on their careers led him to extend his services to include career coaching, which he has been happily doing since 2008.


Destiny 2 News: In Partnership With Vox Media, Polygon Is A Gaming Website.

It is a first-person shooter video game created by Bungie that is available for free to play exclusively in multiplayer mode on the internet. For the PlayStation 4, Xbox One, and Microsoft Windows platforms, it was first published as a pay-to-play title in 2017.

Fox News Trump: Donald Trump Was The 45th President Of The United States From 2017 To 2021

The Fox News Channel, abbreviated as FNC, is an American international conservative cable television channel headquartered in New York City. It is popularly known as Fox News and is styled in all capitals.

Revolver News: Hub Of Latest Conservative, Populist, Moderate, And Patriotic Liberal News And Analysis

Clan de Banlieue, based in the Dutch port city of Rotterdam, has set its sights on a more fashion-forward approach to streetwear as it expands throughout Europe.

Lifesite News: Canadian Catholic Far-right Anti-Abortion Advocacy And News Website Lifesitenews

LifeSiteNews is a non-profit Internet news service focused on culture, life, and family concerns. It was first released in September of 1997.

Stimulus News Update: All The Latest Information About A Potential Fourth Stimulus Check

A stimulus package is often a government-sponsored economic stimulation initiative. Stimulation is the process of encouraging growth or causing activity in general.

Uscis News: All Updates About Us Citizenship And Immigration Services

Immigration to the United States refers to the worldwide movement of people who are not citizens of the United States who want to live permanently in the country. Throughout most of the United States' history, immigration has been a significant source of population expansion and cultural development.

Whatfinger News: Hub Of Latest Local News

Whatfinger News is a news aggregator that gathers information from a variety of sources. Visitors may read different kinds of material, including opinion pieces and stories about current events.

Wmbf News: Get All The Latest News And Up-to-date Weather Forecasts For Myrtle Beach, Florence, And The Grand Strand In South Carolina With First Alert News

In the United States, WMBF-TV (virtual and UHF digital channel 32) is an NBC-affiliated television station licensed to Myrtle Beach, South Carolina. The station broadcasts to the Grand Strand and Pee Dee regions of South Carolina. Gray Television is the company that owns the station.

Xnxubd 2021 Nvidia: News, Configuration, Updates, Videos

Xnxubd 2021 Nvidia Videos Download: Installation, Configuration, Geforce Experience & New Updates

Exploring the Guidelines for preparing Microsoft Azure AZ-303 Exam Dumps Questions and becoming a Microsoft Architect

The world belongs to those IT experts, who do not only know Microsoft designing but securing the IPs as well. The Microsoft certification let you ace in your IT career. The successful career in IT belongs to the people who are better in implementation of solutions in Microsoft Azure Certification.

Play responsibly online: Consider these tips while playing online ream money games

Recently, the popularity of online games has skyrocketed. In particular, online casino games are loved by people. Online casinos facilitate a massive collection of various games, whether it is a round of poker, waiting for a magical combination on the slot, or the thrill at the roulette table.

© Copyright 2021 The Washington Independent All Rights Reserved

Terms & Privacy |