Dollar Extends Rebound As Investors Await US Stimulus Details, Bitcoin Rebounds By Reuters

© Reuters. FILE PHOTO: This illustration shows a US dollar bill

By Kevin Buckland TOKYO (Reuters) – The dollar extended its rally from nearly three-year lows against its major peers on Thursday, supported by higher yields in the United States, as President-elect Joe Biden prepared to outline his fiscal stimulus plans. massive. They held on to gains made on Wednesday in early Asian trading as investors continued to reduce the bearish bets. The dollar has risen in four of the last five trading sessions as the prospect of more stimulus has weighed on U.S. government bonds, pushing the benchmark Treasury yield above 1% per first time since March. it also maintained the 10% gains made on Wednesday, as it rallied after sliding nearly $ 12,000 from an all-time high of $ 42,000 reached last week. Biden will release details Thursday of a plan for “trillions” of dollars in pandemic aid. Expectations that more stimulus will drive faster growth has lifted US yields, which in turn supported the dollar. However, many analysts expect the currency’s rebound to be temporary as the build-up of bearish dollar positions is shaken. In the long term, they expect more US stimulus to support risk sentiment, which is weighing on the dollar, which is traditionally seen as a safe haven. “I think risk asset positioning is becoming a concern, so there could be a contraction in the dollar in the short term,” said Shusuke Yamada, Japan’s chief FX strategist at Bank of America (NYSE 🙂 at Tokyo “I am focusing on the gradual weakness of the dollar in 2021.” Currency speculators have been net short on the dollar since mid-March, as growing investor appetite for riskier assets hurt demand for the dollar. The dollar index was trading little changed at 90.292 after adding 0.3% overnight. It fell as low as 89.206 on January 6 for the first time since March 2018. The euro held steady at $ 1.2164 after falling 0.4% on Wednesday. The dollar changed little to 103.925 yen, after a 0.1% rise previously. Bitcoin was up 0.6% to $ 37,655 on Thursday, from a low of $ 30,261.13 on January 11. ================================================== ====== Currency offer prices at 10:06 am (106 GMT) Description RIC Last US closing percentage change Offer Previous exchange session Euro / Dollar $ 1.2165 $ 1.2159 + 0.05% – 0.43% +1.2171 +1.2155 Dollar / Yen 103.8670 103.8850 + 0.01% + 0.59% +103.9200 +103.8150 Euro / Yen 126.37 126.28 + 0.07% -0.43% +126.4300 +126.2300 Dollar / Swiss 0.8871 0.8875 -0.04% + 0.28% +0.8877 + 0.8871 Pound sterling / Dollar 1.3651 1.3637 + 0.10% -0.09% +1.3651 +1.3644 Dollar / Canadian 1.2686 1.2701 -0.10% -0.36% +1.2699 +1.2688 Aussie / Dollar 0.7749 0.7734 + 0.20% + 0.74% +0, 7750 +0.7733 NZ 0.7191 0.7175 + 0.24% + 0.15% +0.7193 +0.7182 Dollar / Dollar All points Tokyo points Europe points Volatilities Tokyo Currency market information of the BOXWOOD

Disclaimer: Fusion Media wishes to remind you that the data contained on this website is not necessarily accurate or in real time. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but by market makers, so the prices may not be accurate and may differ from the actual market price, which means that prices are indicative and not appropriate for commercial purposes. Therefore, Fusion Media assumes no responsibility for any business losses you may incur as a result of the use of this data. Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on information, including data, quotes, charts, and buy / sell signals contained on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.