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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 -
UK Stocks-Factors to watch on Jan 26
Published at 26/01/2021 at 07:53 -
UK Stocks-Factors to watch on Jan 26
Published at 26/01/2021 at 06:35 -
Weak German business morale, vaccine delays push European stocks to 2-week low
Published at 25/01/2021 at 17:31 -
London's FTSE 100 drops to near three-week low as virus risks weigh
Published at 25/01/2021 at 17:00 -
London stocks gain on M&A activity, virus risks weigh
Published at 25/01/2021 at 08:20 -
Tech shares, corporate earnings lift European stocks
Published at 25/01/2021 at 08:18
Forex News
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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 -
FOREX-Dollar gains as stimulus nerves nudge investors to safety
Published at 26/01/2021 at 07:01 -
FOREX-Dollar firm as traders look to Fed to hold the line
Published at 26/01/2021 at 04:29 -
FOREX-Dollar firm as jittery markets look to Fed for catalysts
Published at 26/01/2021 at 00:46 -
FOREX-Dollar advances as investors shy away from risk
Published at 25/01/2021 at 20:43 -
FOREX-Dollar rises as investors shy away from risk
Published at 25/01/2021 at 17:28
Market News
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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 -
CORRECTED-Oil prices edge lower amid doubts over U.S. stimulus, rising coronavirus cases
Published at 26/01/2021 at 04:44 -
PRECIOUS-Gold inches lower on firmer dollar, U.S. stimulus worries
Published at 26/01/2021 at 01:13 -
Oil rises 1% on U.S. stimulus hopes, supply concerns
Published at 25/01/2021 at 20:28 -
PRECIOUS-Gold pares gains as the dollar edges higher
Published at 25/01/2021 at 19:33 -
PRECIOUS-Gold firms as dollar, yields ease; Biden stimulus plan in focus
Published at 25/01/2021 at 12:26
FOREX-Dollar under pressure as risk appetite stages a comeback
Published at
25/11/2020 at 02:58
* Graphic: World FX rates in 2020
* Dollar loses out as risk appetite improves
* Vaccine, Biden transition boost sentiment
* Bitcoin closes in on all-time high
By Stanley White
TOKYO, Nov 25 (Reuters) - The dollar nursed losses on Wednesday as progress in developing a novel coronavirus vaccine and expectations for a fiscal boost from a new U.S. government triggered a shift of funds from the greenback to riskier assets.
The U.S. currency teetered near a two-month low against the Australian dollar and a two-year low against the New Zealand dollar, both considered barometers of risk sentiment due to their close ties with the global commodities trade.
Bitcoin, a cryptocurrency known for extreme volatility, also traded near an all-time high, in a further sign that investors are growing more comfortable taking on riskier positions.
The U.S. dollar's declines are likely to continue because a vaccine and the expected choice of former Federal Reserve Chair Janet Yellen as U.S. President-elect Joe Biden's next Treasury secretary relieve two big uncertainties for investors.
"Rising yields may lend the dollar some support, but the overall direction is it will head lower," said Junichi Ishikawa, senior foreign exchange strategist at IG Securities in Tokyo.
"The trend has shifted to favour risk assets. Yellen will team up with the Fed and support the economy. U.S. rates will remain low for a long time."
The dollar stood at $1.1903 against the euro on Wednesday in Asia, close to a two-week low.
The British pound bought $1.3359, close to its highest in more than two months.
Against the yen , the dollar held steady at 104.54.
Research suggesting that a COVID-19 vaccine could be available before year end has sent U.S. stocks surging to record highs and reduced the appeal of holding the dollar as a safe-harbour currency.
Risk appetite has also improved after the outgoing U.S. President Donald Trump's administration began cooperating with the Biden transition, and after reports that Yellen, an advocate of more fiscal spending, will take the top job at Treasury.
The dollar index , pitting the dollar against a basket of six major currencies, was at 92.109 after falling 0.4% on Tuesday.
The onshore yuan rose to 6.5818 per dollar on hopes for better Sino-U.S. ties under Biden. Other Asian currencies also edged higher.
The Antipodean currencies were already on the front foot as investors unwound bets for additional monetary easing in both countries.
Improving risk appetite means the Australian dollar's
next target is its high of $0.7413 on Sept. 1.
The New Zealand dollar , which has rallied 5.6% so far this month, is trading just shy of its strongest since June 2018.
Bitcoin , the most popular cryptocurrency, eased slightly to $19,046 but was still close to its record of $19,666 from December 2017.
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Currency bid prices at 11:39AM (0239 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar $1.1903 $1.1895 +0.07% +6.17% +1.1907 +1.1888
Dollar/Yen 104.5400 104.4300 +0.07% -3.79% +104.5950 +104.4600
Euro/Yen 124.42 124.17 +0.20% +2.03% +124.4700 +124.2000
Dollar/Swiss 0.9108 0.9111 -0.02% -5.86% +0.9114 +0.9106
Sterling/Dollar 1.3359 1.3361 +0.00% +0.74% +1.3365 +1.3356
Dollar/Canadian 1.2997 1.2997 +0.00% +0.05% +1.2998 +1.2991
Aussie/Dollar 0.7358 0.7361 -0.04% +4.87% +0.7373 +0.7354
NZ 0.6982 0.6979 +0.01% +3.73% +0.6984 +0.6970
Dollar/Dollar
All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ
(Reporting by Stanley White; Editing by Christopher Cushing)
((stanley.white@tr.com; +81 (0)3 4563 2799; twitter.com/stanleywhite1 ;))