The US surpassed 10 million total cases of COVID-19

The pair will break down from a major support line, sending the pair lower towards the 1.32000 resistance area. Asia’s coronavirus cases remain stable despite the resurgence of the deadly virus in Europe and North America. This week, the US surpassed 10 million total cases of COVID-19 while some countries in Europe implemented a second lockdown. Meanwhile, Singapore had only 1-digit daily infection cases throughout November making Asia, particularly Singapore, a good investment hub for businesses. Aside from this, the country is looking to build up its reserves and take advantage of the weak US dollar. USD reserves by Singapore in October jumped to $338.0 billion compared to the prior month’s $328.0 billion. This, in turn, will hedge the Singaporean dollar against economic uncertainties. In other news, US Chamber of Commerce CEO Thomas Donohue calls for the passing of the new stimulus bill before the inauguration of Biden.