Home FX CAD US Dollar Falls as Risk Appetite Improves

US Dollar Falls as Risk Appetite Improves

FILE PHOTO: U.S. One dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. REUTERS/Dado Ruvic/Illustration

#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!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.