Dollar drops as month-end approaches [CNBC]
Toronto Dominion Bank (The) (TD)
Last toronto dominion bank (the) earnings: 2/27 06:30 am
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Source: CNBC
Australian bank notes and coin.Florent Rols | SOPA Images | LightRocket via Getty ImagesThe dollar dropped against a basket of other currencies for the second day on Tuesday as investors rebalanced portfolios for month-end.Stock investors were cheered by better than expected corporate earnings and economic optimism after several countries and U.S. states laid out plans to reopen businesses that were shut to stem the spread of the novel coronavirus.Month-end rebalancing is also negative for the greenback with the likely to be sold against the euro, sterling, the Japanese yen and the Australian dollar, according to Mark McCormick, global head of FX strategy at TD Securities in Toronto.These flows, in combination with a number of central bank meetings this week, make it difficult to read too much into market moves, he said."We wouldn't draw too many conclusions about the state of the currency market over the next few sessions given the mingling of policy and technical drivers," McCormi
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