Dollar Weakens; Economic Recovery Optimism Grows -

Dollar Weakens; Economic Recovery Optimism Grows

FxPremiere.com – The dollar weakened in early European trading Monday, as traders walked away from this safe haven amid optimism about a vaccination-led global recovery and the prospect of more U.S. stimulus.

FX Signals

EUR/USD climbed 0.2% to 1.2137, the risk-sensitive AUD/USD rose 0.3% to 0.7779, while the Chinese yuan reached its strongest level since June 2018 at 6.4009 per dollar in the offshore market.

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Dollar loses out on growing optimism about virus vaccine

“Global growth should be very strong over the next six months as the vaccination campaigns play out,” said analysts at Goldman Sachs (NYSE:GS), in a research note. “We expect global cyclical forces to dominate some degree of ‘U.S. outperformance’, resulting in dollar downside for most crosses.” Dollar Down as Vaccine Optimism

Forex Signals – The U.S. dollar was down

The speedy roll out of vaccines coupled with a fall in infections have prompted investor bets the country’s economy will likely rebound stronger than expected when it eventually reopens. Dollar Down COVID-19 Recovery

Trading Signals in Forex

U.K. Health Secretary Matt Hancock said Monday that British Prime Minister Boris Johnson will this week judge how quickly England can exit lockdown, but he warned that the death toll and hospital admission numbers are still too high.

Dollar Weakens on Vaccine

Dollar Weakens; Economic Recovery Optimism Grows

US Dollar Up After COVID-19 Recovery

Dollar Weakens; Economic Recovery Optimism Grows