Dollar extends four-month high

TOKYO (Reuters) – FX Signals . The dollar hit a fresh four-month high against the euro on Thursday as the U.S. pandemic response continued to outpace Europe’s, which has been hobbled by extended lockdowns and delayed vaccine rollouts.

The safe-haven greenback held on to most of a broad two-day advance, which has been fuelled by worries ranging from Europe’s third COVID-19 wave and potential U.S. tax hikes to the persistent spectre of inflation.

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“The narrative of the U.S. outperforming Europe in the coming quarter remains.”

The euro traded near the four-month low of $1.1809 touched earlier in the Asian session, while a gauge of the dollar against six major peers hovered just below a four-month high of 92.617 reached overnight.

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Meanwhile, benchmark 10-year Treasury yields consolidated around 1.6%, a week after hitting a more than one-year top of 1.754%, which had also supported the dollar.

Sterling gains dollar on back foot

Yellen told Senate lawmakers she was open to banks buying back stock and paying dividends, an updated view showing her confidence in the economy. Powell also said he thinks 2021 will be a “very, very strong year in the most likely case.”

Dollar extends four-month high

Dollar Up Over COVID-19 Worries

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