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The US dollar shook on Wednesday. What about other currencies?

The US dollar fought against major currencies on Wednesday. Investors expect a pandemic recovery, US fiscal stimulus And Brexit.

The pound sterling recovered after falling for three days. The deadline for London to reach a trade deal with Brussels is approaching before Britain leaves the European Union at the end of the year.

Wednesday’s dollar index rose slightly at 90.447 after rising 0.5% on Tuesday. So far, this year we can incur losses of 6% or more.

The Forex market appears to be positioned towards a Covid-19 pandemic recovery that boosts global growth and reduces demand for the dollar and other safe currencies. Meanwhile, the high-risk Australian dollar rose 0.5% to $ 0.75515. The euro also rose 0.2% to $ 1.21875. Sterling was also expected to rise 0.2% to $ 1.3384, ending the three-day decline.

Shinichiro Kadota, senior currency strategist at Barclays Capital in Tokyo, said investors were concerned about the coronavirus and Brexit. But that has not reached the point where positive emotions have changed. He expects the dollar to remain weak.

The pound sterling fluctuated as Britain left the EU’s trade trajectory in a few days and waited for signs of progress in negotiations.

How was the Asian currency?

The dollar fell 0.1% to 103.47 yen, which is also a traditional safe haven. In addition, the offshore market has changed slightly to 6.5402 Chinese yuan. The dollar traded on land for 6.5495 yuan.

Meanwhile, the US Congress has passed a $ 8.92 billion coronavirus aid package. Vaccine deployment is also gaining momentum. Traders have so far not discouraged such rumors, although there have been some reports that authorities may interfere with the bill. According to Kadota, the calm reaction suggests that the FX market is hoping that the bill will pass in some way.

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The US dollar shook on Wednesday. What about other currencies?

https://www.financebrokerage.com/u-s-dollar-wavered-wednesday-what-about-other-currencies/ The US dollar shook on Wednesday. What about other currencies?

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