US Dollar Falls as Risk Appetite Improves

#Dollar #cryptocurrencies


USD fell from a 2-wk high in Asia Thursday as global market risk appetite improved, while traders focused on a Bank of England meeting and economic data that may provide clues on when the Fed might dial back monetary stimulus.

USD has rebounded from a 1-month low over the past wk, based on economic data that has supported the case for a rapid recovery from the VirusCasedemic.

At 1024 GMT, the pound was steady against the weaker dollar, at $1.3916 .

EUR was up 0.4% Vs USD at $1.2049 , and up 0.3% against GBP, at 86.57p per EUR.

The Canadian dollar hit a 3-yr high, helped by Crude Oil price gains and the Bank of Canada’s shift to more hawkish guidance.

In cryptocurrencies, Ether traded around $3,500 after reaching a record high of $3,559.97 Tuesday, skyrocketing nearly 800% this month .

Bitcoin was up around 1.5% at $58,350, still below the all-time high of $64,895.22 it marked in April .

The meme-based virtual currency Dogecoin soared Wednesday to an all-time high, extending its Y 2021 rally to become the 4th-biggest digital coin

Have a healthy day, Keep the Faith!