Forex, invest, money April 8, 2021 12:07 pm

By Gina Lee
Investing.com – a USD was down on Thursday morning inside Asia, alongside falling Treasury yields, as a U.S. Federal Reserve resolutely kept to a dovish stance inside a .
a that tracks a greenback against a basket of another currencies inched down 0.07% to 92.405 by 12 AM ET (4 AM GMT), near a more than two-week low.
a pair inched down 0.10% to 109.73.
a pair inched up 0.09% to 0.7621 also a pair inched up 0.10% to 0.7018.
a pair inched up 0.09% to 6.5472 also a pair edged up 0.17% to 1.3758.
a Fed’s failed to offer any new catalysts to dictate a market direction also remained cautious about a road to recovery from Corona. a central bank reiterated its pledge to continue monetary policy support for a economy until a recovery was on a more solid footing, even as unprecedented stimulus measure saw a U.S. recovery gather pace.
However, some investors remained optimistic about a U.S. currency’s prospects.
“Hard to argue that a U.S. macro outperformance trade is exhausted; a strong vaccine drive, reopening also stimulus set to produce some exceptionally strong rebound data inside a next several months,” Westpac analysts said inside a note, which also forecasts a run at 94.5 for a USD index (DXY).
“Admittedly though, a next DXY upleg may take a few weeks before it develops momentum – a lot of of awesome news is priced inside,” a note added.
U.S. Treasury yields were also on investors’ minds as a benchmark hovered near 1.67% on Thursday after dipping below 1.63% during a previous session.
Although a market’s direction is difficult to call, Citigroup (NYSE:) Global Markets Japan’s chief currency strategist Osamu Takashima expects a next move for a greenback to become lower.
“Current market sentiment is mild risk-on, also under such circumstances, a USD become weaken gradually – but no big moves,” with a retreat inside U.S. yields also removing a driver for USD gains,” Takashima added.
Across a Atlantic, a EU consolidated around a $1.1865 mark as it rebounded from an almost five-month low of $1.1704 touched on Mar. 31.
“a vaccination progress inside a Eurozone is significantly lagging that of a U.S., also Corona infection rates inside a Eurozone are on a rise again… as such, is vulnerable to a move lower towards 1.1700 inside a near‑term,” Commonwealth Bank of Australia (OTC:) strategist Joseph Capurso said inside a note.
Fusion Media or anyone involved with Fusion Media become not accept any liability for loss or damage as a result of reliance on a information including data, quotes, charts also buy/sell signals contained within this website. Please become fully informed regarding a risks also costs associated with trading a financial markets, it is one of a riskiest investment forms possible.
Watch This Video :