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Dollar bounces off 2018 lows on economic outlook, euro profit-taking
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Stocks, Treasury yields climb after Democrats win control of U S Senate
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NEW YORK (Reuters) -The dollar bounced on Thursday from levels not touched since March 2018 to its highest in a week as investors looked at the potential for an economic rebound in upcoming quarters and investors who had been betting on the euro took profits.
FILE PHOTO: A U.S. Dollar banknote is seen in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration
The dollar index , which measures the U.S. currency against a basket of peers, rose 0.53% at 89.785 after climbing as high as 89.979, with the euro down 0.43% to $1.2272.
The dollar had little movement on Wednesday as hundreds of President Donald Trump’s supporters stormed the U.S. Capitol in a bid to overturn his election defeat, battling police in the hallways and delaying for hours the certification of Democratic President-elect Joe Biden’s victory. [nL1N2JI0JO]
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USD/CAD Price Forecast 2021: The complications of COVID-19 on the loonie and the hope for a recoveryANALYSIS |
12/22/2020 4:21:29 PM GMT
Markets in 2021 turn on the defeat of the pandemic and resumption of normal economic activity.
Comparative statistics did not provide a rationale analysis for the USD/CAD 2020 ascent or decline.
Pandemic risk premium extraction dominated USD/CAD price trading in 2020 but ended in July at 1.3400.
Canadian dollar will start 2021 on a strong commodity note, fade as the US economy recovers.
This was the year without ambiguity. From the national economic catastrophes of the lockdowns to the closing of your favorite restaurant, from the US election to the politics of your local school board, COVID-19 touched everyone, destroyed much and left nothing unchanged.
12/23/2020 11:32:17 AM GMT
EUR/USD market players hope for a return to economic growth by mid-2021.
Central banks are likely to maintain their ultra-loose monetary policy for longer than the pandemic.
EUR/USD price has turned bullish after breaking above a descendant trend line coming from 2008.
A pandemic disrupted financial markets and the global economy in 2020, and the greenback is the overall loser. The EUR/USD pair has reached levels last seen in 2018, not far from that year´s peak at 1.2554. After almost a year of pessimism, investors are stubbornly optimistic, with Wall Street trading at record highs. And this is taking place just a few months after major economies posted their largest economic contractions in decades.
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