This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
Dollar Weak As Trump Argues Unemployment Benefits Renewal
The dollar lost 0.25% on Monday against majors on increased risk appetite. Positive headlines around the EU’s recovery fund and the UK-Pfizer vaccination deal supported the respective currencies.
In addition, Trump’s administration held firm on renewing unemployment benefits during bilateral talks yesterday. This dented the demand for dollars even further.
Against the yen, the greenback gained 0.15%, as Japan’s trade data was disappointing.
Euro Closes Higher on EU Recovery Fund Compromise
The euro ended the session 0.35% higher against the dollar yesterday.
Despite starting Monday’s session on bad footing over the recovery fund’s program of grants, EU leaders reached a compromise at €390bn.
As a result, earlier losses due to rejected proposals were reversed.
UK Strikes Life-Saving Vaccine Deal with Pfizer
The pound was the best performer going into the week. It rose by 0.87% against the greenback on Monday.
The British govern...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.