Dollar takes a breather on renewed coronavirus worries

25.01.2021 - Kulakov Vladimir
Dollar takes a breather on renewed coronavirus worries

The dollar steadied on Monday after a recent drop as new worries about the coronavirus pandemic and the global economy urged investors to cling on to the safe-haven currency.

The dollar index was flat at 90.172. It rebounded on Friday after reaching 90.043 on Thursday, its weakest level last week.

Analysts say the dollar could resume its drop if the Fed reaffirms a highly dovish policy at its meeting later this week. 

The euro steadied at $1.2174, pausing after climbing 0.8% last week. Gains for the common currency was capped by signs of political instability in Rome. 

Economic activity in the euro zone fell in January as strict lockdowns to contain the new COVID-19 strain hit the bloc’s dominant service industry. 

Elsewhere, the pound firmed at $1.3684, just below a 2 ½-year high of $1.3745 hit on Thursday amid vaccine rollouts in Britain.

The dollar was flat at 103.76 against the Japanese yen. 

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?