Fundamental view: The British pound pulled back a bit during the course of the week, but then turned around to form a bullish rally. The pound surged on the broad dollar’s weakness and despite a tepid market’s mood. In the past week, the UK reported over 50K new coronavirus cases, resulting in UK Health Secretary Matt Hancock announcing [...]
Fundamental view: Gold ended the year with a bullish bias, supported by a US dollar decline. It gained 22% over the year. The pandemic was the catalyst for the rally in 2020, and increased the safe-haven demand for the yellow metal. The epidemic in the U.S. also triggered an expansion in monetary policy easing that led to abundant liquidity and negative real interest [...]
USD/JPY drops down during the early Thursday’s trading. The yen pair ignores off in Japan while cheering the US dollar weakness. The US dollar index (DXY) drops to the fresh multi-month low of 89.51. The cautious optimism over the US coronavirus (COVID-19) stimulus and vaccine favor, coupled with the passage of the Brexit deal, exerts [...]
The dollar slumped to multi-year lows against many currencies on Wednesday as currency traders looked past a new delay in U.S. stimulus cheques and maintained bets additional financial aid was still likely. The dollar has fallen steadily since U.S. President Donald Trump signed a coronavirus aid and spending bill on Sunday, because more stimulus for [...]
