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Dollar extends rebound as U.S. yields rise

The dollar edged higher across the board on Monday, extending a rebound from the near three-year low hit last week, taking strength from the recent spike in Treasury yields and the prospect of a growth boost from higher U.S. fiscal stimulus. Democratic U.S. President-elect Joe Biden, who takes office on Jan. 20 with Democrats able to control both houses of Congress, has promised “trillions” in extra pandemic-relief spending. Ordinarily, the extra spending plans would prompt investors to worry about rising inflation and its detrimental effect on the U.S. dollar in ...

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FOREX-ECB comments suppress euro, dollar perks up ahead of Fed

The euro fell on Wednesday, under pressure after a European Central Bank official said the bank was monitoring the currency closely, while the dollar perked up ahead of the Federal Reserve’s first meeting of the year. ECB governing council member Klaas Knot said the central bank has room to cut its deposit rate further, should it be necessary to improve financing conditions and reach its inflation target. Knot’s comment constituted the most explicit hint to date from an ECB policymaker about the possibility of a rate cut to stem a ...

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Dollar on back foot with Fed’s Powell likely to sound dovish note

The dollar was stuck on the back foot against major peers on Wednesday as markets wait on comments from Federal Reserve Chair Jerome Powell, who is likely to renew a commitment to ultra-easy policy. The greenback held declines against riskier currencies, with pandemic recovery hopes getting a boost as the International Monetary Fund upgraded its forecast for 2021 global growth. Treasury yields, whose rise had supported the dollar at the start of this year, declined overnight amid caution about the eventual size of and potential delays to President Joe Biden’s ...

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Dollar extends rebound as U.S. yields rise

The dollar edged higher across the board on Monday, extending a rebound from the near three-year low hit last week, taking strength from the recent spike in Treasury yields and the prospect of a growth boost from higher U.S. fiscal stimulus. Democratic U.S. President-elect Joe Biden, who takes office on Jan. 20 with Democrats able to control both houses of Congress, has promised “trillions” in extra pandemic-relief spending. Ordinarily, the extra spending plans would prompt investors to worry about rising inflation and its detrimental effect on the U.S. dollar in ...

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Dollar at one-week highs on safety bid, euro struggles

The dollar climbed to a one-week high against its rivals on Tuesday as doubts over the speed and size of U.S. stimulus discouraged risk-taking ahead of this week’s Federal Reserve policy meeting. Early London trading had a broadly cautious tone, with currencies including the Australian dollar and the euro under selling pressure. The single currency was further weighed down by early signals that the economy may not rebound as strongly this year as predicted. Germany’s Ifo business climate indicator undershot expectations on Monday and an economic surprise index in Europe ...

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Dollar extends rebound as U.S. yields rise

The dollar edged higher across the board on Monday, extending a rebound from the near three-year low hit last week, taking strength from the recent spike in Treasury yields and the prospect of a growth boost from higher U.S. fiscal stimulus. Democratic U.S. President-elect Joe Biden, who takes office on Jan. 20 with Democrats able to control both houses of Congress, has promised “trillions” in extra pandemic-relief spending. Ordinarily, the extra spending plans would prompt investors to worry about rising inflation and its detrimental effect on the U.S. dollar in ...

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Vaccine races and currency wars: Mike Dolan

A collision of vaccine races, early policy reversal and even currency wars could well give investors a headache this year. Speed in ending the pandemic is clearly critical to all economies and markets. And strategists everywhere are poring over relative rates of vaccine rollouts for a lead on whose national herd reaches immunity first – with obvious implications for businesses, consumers and markets. On available data, Israel seems far ahead with more than 30 doses per 100 people already. Britain and the United States lead the larger economies with between ...

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FX traders brush off ECB talk, bet euro-dollar has further to run

How strong is the euro really? Despite European policymakers’ alarm over its run to 2-1/2-year highs against the dollar, several factors governing exchange rates imply the single currency’s bout of strength is far from over. European Central Bank boss Christine Lagarde said on Thursday the bank was closely watching the euro, which surged 9% last year to above $1.23, its biggest annual gain in four years.. The currency’s strength is a headache for the ECB which is struggling to somehow get inflation towards the 2% mark and saw it stay ...

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Dollar extends rebound as U.S. yields rise

The dollar edged higher across the board on Monday, extending a rebound from the near three-year low hit last week, taking strength from the recent spike in Treasury yields and the prospect of a growth boost from higher U.S. fiscal stimulus. Democratic U.S. President-elect Joe Biden, who takes office on Jan. 20 with Democrats able to control both houses of Congress, has promised “trillions” in extra pandemic-relief spending. Ordinarily, the extra spending plans would prompt investors to worry about rising inflation and its detrimental effect on the U.S. dollar in ...

Read More »

Dollar stabilises after three-day decline; PMIs in focus

After three straight days of losses, the dollar stabilised on Friday and riskier currencies lost out as the recent equity market rally paused for breath, with business activity data in focus. The dollar had fallen against a basket of currencies for the past three sessions as market optimism about U.S. President Joe Biden’s fiscal stimulus plans prompted traders to seek riskier assets, with the New Zealand and Australian dollar gaining. But that trend paused on Friday as market sentiment pulled back, global shares slipped off record highs and the U.S. ...

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Dollar recovery pushes sterling below $1.35; UK negative rates risk in focus

The pound was among the risk assets hurt by the recovering dollar on Monday, falling below $1.35 for the first time in 2021, while investors weighed up the risk of the Bank of England introducing negative rates. The pound has fallen against the dollar and euro so far this month, after the last-minute Brexit deal signed in December was quickly overshadowed by tighter lockdown measures to combat the spread of a new variant of COVID-19. Widening U.S. Treasury yields and the expectation of more fiscal stimulus lifted the dollar against ...

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Euro gains before ECB meeting; Biden stimulus weighs on dollar

The euro ticked higher before a meeting of the European Central Bank on Thursday, with the dollar declining versus major peers as plans for a massive U.S. stimulus package fuelled market optimism and sapped demand for safe-haven currencies. Stock markets reached record highs on Wall Street and in Asia following the inauguration of Joe Biden, amid hopes the 46th president of the United States would secure a $1.9 trillion package to prop up the COVID-19 hit economy. The dollar index slipped 0.2% to 90.240, declining for a third day after ...

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Dollar extends rebound as U.S. yields rise

The dollar edged higher across the board on Monday, extending a rebound from the near three-year low hit last week, taking strength from the recent spike in Treasury yields and the prospect of a growth boost from higher U.S. fiscal stimulus. Democratic U.S. President-elect Joe Biden, who takes office on Jan. 20 with Democrats able to control both houses of Congress, has promised “trillions” in extra pandemic-relief spending. Ordinarily, the extra spending plans would prompt investors to worry about rising inflation and its detrimental effect on the U.S. dollar in ...

Read More »

FOREX-Dollar sinks for 3rd straight session as risk sentiment rises

The dollar sank against a basket of currencies for a third straight session on Wednesday as improved sentiment buoyed riskier currencies such as the Aussie dollar and the euro. The Australian dollar was the biggest mover in the G10 group of currencies, gaining half a percent to $0.7734. The New Zealand dollar was a close second, up 0.35% at $0.7140 Ebbing political turmoil in Italy, with Prime Minister Giuseppe Conte winning a crucial vote to stay in power, helped lift the euro to $1.2158, already buoyant on a survey that ...

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How Globalization Has Affected The Dollar

Back in 2017 when the U.S. embarked on withdrawing from multi-lateral treaties and then imposing tariffs on many imported goods across a wide range of major trading partners including China and the European Union, it looked like the pendulum of change was swinging away from globalization to enter an era of de-globalization. Four years later, the reality is quite different. Globalization is alive and well, just in an altered form. What is happening is that trade patterns are being re-arranged. This is occurring not only due to the end of ...

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