US dollar has been recording some modest gains
Amidst a general trend of decline, the US dollar has been recording some modest gains to other major currencies over the last few sessions. The greenback’s gains come alongside rising treasury yields ahead of a large bond auction later in the day. There is a sense that a corner has been turned. As the number of COVID-related hospitalizations reduces, this has generated optimism over the prospects of an economic recovery in the United States and increased the appeal of dollar denominated assets, which is positive for the currency.
Ricardo Evangelista – Senior Analyst, ActivTrades
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