US dollar dips on vaccine news

Currency markets march to the recovery beat Forex Signals; Currency markets have ignored the noise in equities overnight, as is their wont of late, and have shifted up a gear in the vaccine-led recovery trade. That meant selling the US dollar, which had a torrid session, the dollar index falling 0.30% to 90.65, just above critical support at 90.50. The greenback has continued edging lower today in Asia, the dollar index easing to 90.65.

Forex – Dollar Dips Amid Negative Rates

USD/JPY has strong support at 103.70, and failure opens up deeper losses t0 103.20.

Dollar dips on vaccine doubts

The cyclical Commonwealth currencies are where the recovery trade has really manifested itself. USD/CAD fell 0.60% to 1.2740, NZD/USD climbed 1.10% to resistance at 0.7100, and the AUD/USD leapt 1.25% to 0.7535.

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In Asia, regional currencies have moved modestly higher this morning. USD/MYR has fallen to 4.0540 today, just above support at 4.0500. A weekly close below 4.0500 signals a move below 4.0000, targeting ringgit gains to 3.8500 in Q1 as the cyclical recovery trade lifts previous underperformers heavy in non-tech industries.

Forex Signals – US Dollar Up After COVID-19 Recovery

Brexit has ensured that sterling has moved to its own beat, hemmed in a volatile 1.3200 to 1.3500 range by Brexit headlines. The market remains heavily long sterling, and if Sunday’s deadline passes with no deal, sterling could well fall below 1.3000 very quickly on Monday.

Signals – The U.S. dollar was down

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US dollar dips on vaccine news

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US dollar dips on vaccine news