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British shares drop as lockdowns strain mining stocks; AstraZeneca weighs
Published at 27/01/2021 at 17:02 -
European stocks flat as tech, miners drag ahead of U.S. Fed decision
Published at 27/01/2021 at 09:41 -
REFILE-European stocks head lower, LVMH shines after earnings
Published at 27/01/2021 at 09:01 -
FTSE 100 drops as lockdowns weigh on mining shares; Fresnillo dips
Published at 27/01/2021 at 08:24 -
UK Stocks-Factors to watch on Jan 27
Published at 27/01/2021 at 07:48 -
UK Stocks-Factors to watch on Jan 27
Published at 27/01/2021 at 06:56 -
Earnings lifts European shares, German DAX outperforms
Published at 26/01/2021 at 17:28 -
London stocks climb as AstraZeneca, Indivior jumps
Published at 26/01/2021 at 17:14 -
London stocks gain as AstraZeneca, Indivior jump
Published at 26/01/2021 at 08:31 -
European stocks inch higher as UBS profit surges
Published at 26/01/2021 at 08:18
Forex News
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Bitcoin slips below $30,000
Published at 27/01/2021 at 15:54 -
FOREX-Dollar rises as investors back away from riskier currencies
Published at 27/01/2021 at 15:44 -
FOREX-ECB comments suppress euro, dollar perks up ahead of Fed
Published at 27/01/2021 at 12:03 -
FOREX-Dollar edges before Fed meeting, euro slips
Published at 27/01/2021 at 09:17 -
FOREX-Dollar on back foot with Fed's Powell likely to sound dovish note
Published at 27/01/2021 at 04:37 -
FOREX-Dollar on the defensive with Fed's Powell likely to sound dovish note
Published at 27/01/2021 at 00:36 -
FOREX-Dollar retreats as riskier currencies recover
Published at 26/01/2021 at 21:13 -
FOREX-Dollar retreats as riskier currencies rebound
Published at 26/01/2021 at 15:30 -
FOREX-Dollar holds at one-week highs as yuan outperforms
Published at 26/01/2021 at 11:50 -
FOREX-Dollar at one-week highs on safety bid, euro struggles
Published at 26/01/2021 at 08:52
Market News
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Oil rises as hefty U.S. crude draw outweighs COVID-19 demand concerns
Published at 27/01/2021 at 16:36 -
PRECIOUS-Gold hits more than 1-wk low on doubts over stimulus bill, firm dollar
Published at 27/01/2021 at 15:49 -
PRECIOUS-Gold slips as dollar rebounds ahead of U.S. Fed verdict
Published at 27/01/2021 at 12:52 -
PRECIOUS-Gold range-bound as focus shifts to Fed policy decision
Published at 27/01/2021 at 07:56 -
Oil rises as U.S. oil stockpiles drop, new Chinese COVID-19 cases decline
Published at 27/01/2021 at 02:32 -
PRECIOUS-Gold steady ahead of U.S. Fed policy decision
Published at 27/01/2021 at 00:52 -
Oil prices steady as virus deaths rise, demand worries persist
Published at 26/01/2021 at 21:49 -
PRECIOUS-Gold edges down on U.S. stimulus worries, softer dollar limits losses
Published at 26/01/2021 at 19:01 -
PRECIOUS-Gold eases on firm dollar ahead of U.S. Fed meeting
Published at 26/01/2021 at 12:11 -
PRECIOUS-Gold falls on firmer dollar, U.S. stimulus concerns
Published at 26/01/2021 at 08:29
FOREX-Dollar dips as Biden transition, vaccines boost risk appetite
Published at
24/11/2020 at 20:21
* Graphic: World FX rates in 2020
(Adds quotes, updates prices)
By Karen Brettell
NEW YORK, Nov 24 (Reuters) - The U.S. dollar fell on Tuesday as risk appetite improved after U.S. President Donald Trump accepted the transition to a Joe Biden presidency and on optimism that COVID-19 vaccines are close to being rolled out.
Trump acknowledged that the head of the General Services Administration should go ahead with a transition to a government led by President-elect Biden, despite plans to continue with legal challenges to election results.
“We had two big risk events taken off the table, one that the Trump administration was not going to allow for an orderly transition, and also on the vaccine front … the vaccine announcements over these last few weeks has well exceeded the most optimistic health experts forecast,” said Edward Moya, senior market analyst at OANDA in New York.
The dollar index was last down 0.31% at 92.214, having reached a three-month low of 92.013 on Monday. It is holding above a key technical support at around 92, which analysts say would lead to further declines if broken.
The euro gained 0.35% to $1.1884 and the dollar gained 0.08% to 104.56 against the Japanese yen .
Riskier currencies outperformed with the Australian dollar last up 0.93% at $0.7354, after earlier touching an almost three-month high of $0.7367.
The New Zealand dollar hit a more than two-year high of $0.7005 as investors scaled back wagers of more policy easing by the country's central bank, and was last up 0.72% on the day at $0.6972.
Bitcoin gained more than 4% to $19,139 and is approaching its record high of $19,666 from December 2017.
“This has become a momentum trade,” said Moya. “I think what has really driven Bitcoin these last few months is the expectations that we’re going to have significant stimulus from central banks and governments.”
Democratic allies to the Biden campaign said former Federal Reserve Chair Janet Yellen is expected to be nominated as Treasury Secretary, which has increased expectations of large fiscal stimulus.
She has called for increased government spending to lift the economy out of a coronavirus-induced recession.
That said, Yellen has also expressed concerns about rapidly rising U.S. debt and the worsening budget deficit.
“She's had mixed comments I'd say on the federal budget,” said Erik Nelson, a macro strategist at Wells Fargo. “I'm not saying she's going to be a big time budget hawk, but I don't know if she’s quite as much of a budget dove as people are willing to admit.”
Data on Tuesday showed that U.S. consumer confidence fell more than expected in November amid a widespread resurgence in new COVID-19 infections and business restrictions, reinforcing expectations for a sharp slowdown in economic growth in the fourth quarter.
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Currency bid prices at 3:00PM (2000 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index $92.2140 92.5090 -0.31% +0.00% +92.5660 +92.1380
Euro/Dollar $1.1884 $1.1842 +0.35% +6.00% +1.1894 +1.1838
Dollar/Yen 104.5550 104.5650 +0.08% -3.66% +104.7550 +104.1450
Euro/Yen 124.24 123.76 +0.39% +1.87% +124.3400 +123.6700
Dollar/Swiss 0.9119 0.9124 -0.04% -5.76% +0.9136 +0.9098
Sterling/Dollar 1.3352 1.3327 +0.19% +0.67% +1.3379 +1.3294
Dollar/Canadian 1.3004 1.3086 -0.62% +0.11% +1.3090 +1.3005
Aussie/Dollar 0.7354 0.7287 +0.93% +4.82% +0.7368 +0.7285
Euro/Swiss 1.0834 1.0804 +0.28% -0.17% +1.0849 +1.0803
Euro/Sterling 0.8899 0.8884 +0.17% +5.26% +0.8913 +0.8875
NZ 0.6972 0.6923 +0.72% +3.63% +0.7004 +0.6919
Dollar/Dollar
Dollar/Norway 8.9110 9.0460 -1.47% +1.61% +9.0280 +8.9100
Euro/Norway 10.5931 10.6993 -0.99% +7.67% +10.7284 +10.5878
Dollar/Sweden 8.5528 8.6273 -0.51% -8.50% +8.6371 +8.5535
Euro/Sweden 10.1635 10.2161 -0.51% -2.92% +10.2262 +10.1648
(Editing by Marguerita Choy)
((karen.brettell@tr.com))