Recovery optimism sends Dax to record high
Posted 6 hours agoSharePrint
Dax, FTSE gain ground
European stocks are bounding higher on Tuesday, rallying to record levels on signs of economic recovery, even as the region battles with its third wave of Covid and attempts to ramp up its vaccine programme.
News that Germany plans to have 20% of its population vaccinated by the beginning of May has helped boost sentiment surrounding German stocks, which soared ahead to fresh all-time highs, firmly beyond the key 15,000 level. Investors are managing to look past the current rise in infections in the Eurozone’s largest economy, which prompted lockdown restrictions to be extended.
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Yen rebounds on dollar weakness
February 9, 2021SharePrint
The Japanese yen has posted sharp gains in the Tuesday session. Currently, USD/JPY is trading at 104.60, down 0.58% on the day.
Yen punches back in 104 territory
Has the pendulum changed for the Japanese yen? The currency has registered gains for a third straight day, which we haven’t seen since mid-December. This follows 10 successive winning sessions for the US dollar, which posted gains of 1.8% during that time. On Friday, USD/JPY touched a high of 105.76, its highest level since mid-October. The dollar appeared poised to break into 106 territory, but the trend reversed after the release of an anemic US nonfarm payrolls report, which showed that the economy created just 49 thousand new jobs in January. The yen has rebounded strongly on Tuesday and has broken below the 105 line.