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Daily Currencies Ratings

Dollar rises again as markets adjust to vaccine hope and higher yields

The U.S. dollar rose and the safe-haven yen weakened again on Wednesday as markets continued to adjust to higher interest rates and prospects for economic growth following news on Monday of encouraging results for a coronavirus vaccine. The euro fell to its lowest level against the dollar in a week as yields on U.S. bonds rose compared with those on European bonds. And, the New Zealand dollar soared to its strongest in a year and a half as traders scaled back bets that the central bank there would move to ...

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Dollar steadies as vaccine optimism wanes

The U.S. dollar stabilised as optimism about a potential coronavirus vaccine was offset by worries about how the drug will be delivered and by a surge of new infections in the United States. The New Zealand dollar recovered from an early dip to its strongest in a year and a half as traders scaled back bets that the central bank would move to negative interest rates. Initial optimism about a coronavirus vaccine pushed the dollar down against riskier currencies and up against the safe-haven yen and the Swiss franc. That ...

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Sterling gains 1% vs euro on Brexit, vaccine hopes

Hopes that a coronavirus vaccine would put the British economy back on track pushed the pound 1% higher versus the euro on Tuesday. Comments from UK government officials that a deal was imminent on a post-Brexit trade agreement with the European Union also boosted sterling, feeding hopes for a deal by year end. The pound was last trading at 89.20 pence against the common currency, having hit a two-month high of 88.85 pence, making it 1% stronger. Any rise above 88.66 pence would take it to a five-month or six-month ...

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Yen plunges as traders add risk for future with vaccine, Biden

Traders unloaded Japanese yen and bought riskier currencies and the U.S. dollar on Monday as market confidence in the economy and world trade increased with progress on a COVID-19 vaccine and the prospect of Joe Biden being U.S. president. The yen JPY=D3, which had become a favored safe-haven, suffered its biggest loss against the U.S. dollar since March, with the greenback rising as much as 2.2%. So-called “risk-on” currencies, such as the Australian dollar and Norwegian krone, strengthened even more. The moves came after Biden announced his first steps as ...

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Riskier currencies maintain gains vs dollar on Biden election win

The dollar stabilised on Monday after tumbling to a 10-week low in the wake of Joe Biden’s election as U.S. president with euro/dollar – the most traded currency pair in the world – holding below $1.19 and the Japanese yen remaining close to an eight month high. Scandinavian currencies and the Australian dollar – all very sensitive to international trade developments and investors’ risk appetite – were stronger. The Chinese yuan CNH=EBS was the biggest mover, having struck a 28-month peak of 6.5501, and last trading up 0.6% at 6.5545. ...

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Clouds gather over battered dollar in U.S. election aftermath

An increasingly bearish picture is unfolding for the U.S. dollar, which has suffered its worst week since March on signs that Federal Reserve money printing rather than government spending may be deployed to bolster the U.S. economy in the aftermath of elections. A potentially divided U.S. government may mean a smaller fiscal stimulus package from lawmakers, increasing pressure on the Fed to ramp up its bond buying and other economically supportive policies that have weighed on the dollar =USD this year. On the other hand, Democrats could still win more ...

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Dollar slumps to two-month low, investors see more declines

The dollar sank to its lowest level in over two months against a basket of peer currencies on Friday, as vote counting for the contentious U.S. elections slowly moved toward a divided government and investors predicted more losses for the currency. Investors are betting that Democrat Joe Biden will become the next president but Republicans will retain control of the Senate, which will make it difficult for the Democrats to pass the larger coronavirus relief package they have been pushing. The need for more stimulus was underlined on Friday when ...

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Dollar slumps to two-month low, investors see more weakness on U.S. election

The dollar sank to its lowest level in over two months against against a basket of peer currencies on Friday, as vote counting for the contentious U.S. election dragged on and investors predicted more losses for the currency. Investors are betting that Democrat Joe Biden will become the next president but Republicans will retain control of the Senate, which will make it difficult for the Democrats to pass the larger fiscal spending package they have been pushing. Biden maintains an edge over President Donald Trump, but a few important states ...

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Sterling weakens vs euro as BoE ramps up stimulus

Sterling fell against the euro on Thursday after the Bank of England increased its already huge bond-buying stimulus by 150 billion pounds and signalled more support ahead. Bank of England Governor Andrew Bailey said the central bank was ready to pump even more money into Britain’s economy if the outlook for inflation weakens. The BoE kept its benchmark interest rate unchanged at 0.1% on Thursday. Its expansion of its bond buying programme by 150 billion pounds was less than some had expected, prompting the pound to initially rise against both ...

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Dollar near one-week lows before U.S. election results; yuan soars

The dollar held near a one-week low against its rivals on Thursday as investors unwound some of their safe-haven demand for the greenback as the U.S. Presidential election entered its final stretch. Democrat challenger Joe Biden is predicted a U.S. election win over President Donald Trump after pivotal victories in Michigan and Wisconsin but his party is falling short of expectations in Congressional elections, with the Senate looking increasingly likely to stay in Republican hands, making it hard to implement stimulus. But financial markets were braced for days or even ...

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Sterling volatile as investors await U.S. election outcome

The British pound was volatile on Wednesday as investors waited for the outcome of the U.S. presidential election, though the currency was weaker for most of the day as traders sold riskier currencies. Democrat Joe Biden was back as favourite to win the U.S. presidential election in online betting markets, according to Britain-based Smarkets Exchange. President Donald Trump had been favourite overnight. The tight race and uncertainty over the outcome kept investors on their toes, and they poured money into safe-haven assets such as the U.S. dollar and offloaded riskier ...

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Dollar trims gains as U.S. election race enters home stretch

The dollar gave up some gains and riskier currencies remained on the backfoot as markets waited for the U.S. election outcome after early results indicated a tight race, surprising investors who had bet on a decisive win for Democrat Joe Biden. President Donald Trump won in the key battleground states of Florida, Ohio and Texas, dashing market hopes for a clear result. Investors waited to see whether Trump would retain the Rust Belt states — Michigan, Wisconsin and Pennsylvania — that sent him to the White House in 2016. The ...

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Dollar dips, risk appetite jumps as Americans head to the polls

The U.S. dollar dipped on Tuesday on stronger risk appetite as investors positioned for the prospect that Democrat Joe Biden will win Tuesday’s U.S. presidential election and launch a large new stimulus package to boost the economy. Biden has led in national polls but President Donald Trump is close in enough swing states to piece together the 270 state-by-state Electoral College votes needed to hold the presidency, which he won in a surprise 2016 election result. Analysts believe a Biden win would weaken the dollar as the former vice president ...

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Trump or Biden, investors expect a weaker dollar

The battered dollar’s long-term fortunes are unlikely to improve regardless of who wins Tuesday’s U.S. presidential election, investors and analysts said. Despite its recent bounce against a basket of currencies, the dollar index =USD is still down about 9% from its March highs and on track for its worst year since 2017, weighed down by expectations that U.S. rates will remain near historic lows for years to come. Many market participants believe that a victory by Joe Biden – currently the front-runner in polls – and a potential Democratic sweep ...

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The Chinese yuan is ‘a long way’ from achieving reserve currency status, says strategist

The Chinese yuan has “a long way” to go before it comes anywhere close to challenging the U.S. dollar’s status as a reserve currency. That’s according to David Roche, president and global strategist at Independent Strategy. “Dethroning the dollar — which the euro tried to do, and settled at a miserable 18-20% of all the international things that go on — is very, very difficult,” Roche told CNBC’s “Squawk Box Asia” on Monday. A number of “almost abstract” conditions, including not having too much leverage in the system as well ...

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