January 26, 2021 at 07:27AM
The U.S. dollar rose on Tuesday as rising coronavirus cases and doubts over the speed and size of U.S. stimulus tempered traders’ upbeat mood, while investors were also cautious ahead of the Federal Reserve’s policy review later in the week. U.S. Treasuries held onto gains, equity markets fell in Asia, and the cautious move into safer assets pushed the dollar index higher. The greenback rose 0.1% to 90.462, close to a one-week high and near the middle of a range it has held for most of the month.
The euro, which fell on Monday as German business morale slumped, is also trading in a range between support around $1.2050 and resistance at $1.2215. It slipped 0.1% to $1.2128. The yen was steady at 103.71 per dollar. The risk-sensitive Australian dollar hit a one-week low and the New Zealand dollar fell 0.4%.
Tight liquidity supported the Chinese yuan. One-year onshore yuan forwards rose to their highest levels of 2021, while the onshore spot price edged up 0.1% to 6.4733.
Dollar gains as stimulus nerves nudge investors to safety, Reuters, Jan 26
From: The FxPro News Team https://fxpro.news/daily-forex-outlook/dollar-gains-as-stimulus-nerves-nudge-investors-to-safety-20210126/
Selected by fonecable.com
- Earnings Season: PG, BAC, and UNH Surpass Expectations
- Canadian Inflation Rate 4.8% as Expected – Markets Look to BoC Next Week
- How to Trade Forex News: An Introduction
- Boris Johnson Risks Facing Vote of No-Confidence – Impact on GBP/USD
- Turkey strikes currency swap deal with UAE as ties warm