Markets are Re-thinking the US Dollar’s Exceptionalism

#dollar #buck #Greenback #Sterling #Aussie #Kiwi #Bitcoin


The power has faded from the Buck’s Q-1 rebound, just as it has gone out of the T-Bond sell-off.”— Paul Ebeling

The USD is headed for its worst week of the yr as unexpectedly strong economic data in Europe, downbeat US jobs numbers and a determinedly dovish Fed have prompted investors to unwind some bets on the Greenback.

EUR and JPY are also on pace for their largest weekly percentage gainers in 5 months while the .DXY, which has fallen 1% this week, is near a 2-week low at 92.066.

Early in the Asia’s Friday session, EUR sat above its 200-Day MA at $1.1916, while the JPY pushed through its 20-Day MA to hold at 109.325/dollar. The EUR is up 1.4% Vs USD this week and JPY is up 1.3%.

The Aussie last sat at $0.7657, up 0.8% on the wk, while the Kiwi climbed to $0.7060, up 0.6% on the week.

EUR has risen more than 2% against GBP this wk, bouncing from a 1-yr low of 84.70p Monday to hit 86.81p in Asia Friday amid growing concerns about Britain’s reliance on AstraZeneca’s vaccine. Sterling was an outlier against the Greenback this wk and has fallen 1/2% to sit at $1.3744.

US Treasuries rose on the jobs numbers and the Fed comments, pushing benchmark 10-yr yields to a 2-wk low of 1.6170%.

Bitcoin at $58,236, reversing 2-day losses.

Have a healthy day, Keep the Faith!