Dollar falls with bets on recovery from vaccine distribution



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The dollar fell to its lowest level in three weeks today, Tuesday, while the British pound hit its highest level in nearly three years and commodity-linked currencies rose, as advances in Corona virus vaccination campaigns have boosted investors’ hopes of recovery. .

The atmosphere of optimism and selling of US Treasuries also pushed the Japanese yen lower, as the safe haven currency retreated from its 200-day moving average against the dollar and hit its lowest. level for several years against the euro, the Australian dollar and the Swiss franc.

The yen was down 0.2% in recent trading, to 105.53 per dollar. The dollar index, which tracks the performance of the US currency against a basket of major currencies, fell 0.1% to 90.240, its lowest level since January 27, and the euro hit its highest level since that date.

The dollar has traded near significant lows against other currencies. The risk-sensitive Australian dollar hit a one-month high of $ 0.7802 and the New Zealand dollar hit a five-week high of $ 0.7257.

The pound, which led the activity, extended its gains, reaching $ 1.3946, the highest level since April 2018, as Britain leads the world in per capita vaccination rates. The currency is up nearly 3 percent from lows set in early February.

The euro rose 0.2% to $ 1.2150, to re-test the resistance it recently reached at that level. Rising oil prices pushed the Canadian dollar and Norwegian krone to their highest levels in several weeks.

Bitcoin high set a new high at $ 49,938, but it appears to be hovering in a limited range just below $ 50,000 as profit taking halted a major rally that led the cryptocurrency to rise by more than $ 50,000. 60% since the start of this operation. year.

The Chinese yuan fell 0.1% to 6.4132 per dollar after the Financial Times reported that Beijing was considering imposing restrictions on rare earth exports in a bid to hurt US companies that use them.

The yen also hit its lowest level since late 2018 against the euro and Australian dollar and hit a five-year low against the Swiss franc at 118.80 yen per franc.

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