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FOREX-Investors take some money off table after week of dollar selling

FOREX-Investors take some money off table after week of dollar selling Reuters 12/18/2020 By Tom Westbrook Profit-taking prompts pause in dollar slide Dollar index up 0.2% but set for weekly loss of 1% Sterling on course for best week in six months Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E By Tom Westbrook SINGAPORE, Dec 18 (Reuters) - The dollar took a breather on Friday after enduring a week-long beating that has pushed it below major support levels as its slide sucked in more short sellers keen to make an easy buck. Traders in Asia skimmed some profits from the big moves, which had even sent the greenback to a nine-month low against the safe-haven yen while the Japanese currency was falling against the likes of the rallying euro, Aussie and kiwi. The dollar was 0.3% stronger at 103.39 yen on Friday and rose by about the same margin against the Australian and New Zealand dollars. It gained about 0.2% against the euro.

SMM Evening Comments (Dec 18): Shanghai nonferrous metals rose across the board as investors reacted to Brexit and US fiscal stimulus talks_SMM

SHFE nonferrous metals closed higher across the board on Friday December 18. SHANGHAI, Dec 18 (SMM) – SHFE nonferrous metals closed higher across the board on Friday December 18. “The bigger picture here is that the market is getting hopeful for some resolution of Brexit and (US) fiscal stimulus talks,” said Bank of Singapore currency analyst Moh Siong Sim. Even soft US economic data, rather than driving a safety bid for dollars, is increasing investors’ expectations for a government spending package, Sim said, which would lift consumption and risk appetite and weigh on the greenback. Aluminium was the best performer with a rise of 1.91%. Copper advanced 1.75%, lead edged up 1.53%, tin climbed 0.17%, zinc increased 1.36% and nickel went up 1.28%.

Investors take some money off table after week of dollar selling

Investors take some money off table after week of dollar selling
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