FOREX TradingCharts.com

Forex News: Dollar Higher As Yields Surge On Stimulus Prospects

Dollar Higher As Yields Surge On Stimulus Prospects

01/14/2021 - 02:59:00 (RTTNews)

(RTTNews) - The U.S. dollar was higher against its major counterparts in the Asian session on Thursday, tracking an uptick in the U.S. Treasury yields, as investors await the details of the stimulus plan to be unveiled by President-elect Joe Biden to boost the economy.

The yield on 10-year U.S. Treasuries rose to 1.11 percent, while the 2-year equivalent was up at 0.15 percent.

The package is expected to include $2,000 in stimulus checks, funding to state and local governments and other emergency spending measures.

Safe-haven bonds fell after CNN reported that Biden is mulling huge spending package worth about $2 trillion.

Biden is set to announce the details of his plan later in the day.

Fed Chairman Jerome Powell will speak at 12:30 pm ET, with investors awaiting any clues on tapering its asset purchase program.

The dollar rose to 1.3616 against the pound and held steady thereafter. The pair had ended Wednesday's deals at 1.3631.

The greenback appreciated to a 2-day high of 0.8892 against the franc, from Wednesday's close of 0.8874. The greenback is seen finding resistance around the 0.90 level.

The greenback hit a 2-day high of 104.20 against the yen, compared to Wednesday's closing quote of 103.87. The greenback is likely to find resistance around the 106.00 level.

The U.S. currency reached as high as 1.2135 against the euro, setting a 3-day peak. If the greenback continues its rise, 1.20 is possibly seen as its next resistance level.

On the other hand, the greenback dropped against commodity currencies. It edged down to 1.2679 versus the loonie, 0.7207 versus the kiwi and 0.7765 versus the aussie, from its early highs of 1.2708, 0.7171 and 0.7729, respectively. The next possible support for the greenback is seen around 1.25 versus the loonie, 0.74 versus the kiwi and 0.80 versus the aussie.

Looking ahead, the European Central Bank publishes the account of the monetary policy meeting of the governing council held on December 9 and 10 at 7.30 am ET.

In the New York session, U.S. weekly jobless claims for the week ended January 9 and import and export prices for December are scheduled for release.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Euro Ticks Up After ECB Decision (53 min(s), 29 sec(s) ago)
(RTTNews) - As expected, the European Central Bank maintained its refi rate at 0.00 percent and th ...Full Story»

Euro Mixed Ahead Of ECB Decision (44 min(s), 29 sec(s) ago)
(RTTNews) - The European Central Bank will announce interest rate decision at 7:45 am ET Thursday. ...Full Story»

Yen Rebounds After BoJ Holds Monetary Policy Steady (03 min(s), 31 sec(s) ago)
(RTTNews) - The Japanese yen erased its early losses against its major opponents during the Asian ...Full Story»

Fall In Jobless Rate, Fiscal Stimulus Hopes Lift Australian Dollar (01 hr(s), 48 min(s), 31 sec(s) ago)
(RTTNews) - The Australian dollar firmed against its major counterparts in the Asian session on Th ...Full Story»

Loonie Little Changed Following Canada CPI (41 min(s), 29 sec(s) ago)
(RTTNews) - After the release of Canada consumer inflation for December at 8:30 am ET Wednesday, t ...Full Story»

Loonie Mixed Ahead Of Canada CPI (32 min(s), 29 sec(s) ago)
(RTTNews) - Canada consumer inflation for December is due at 8:30 am ET Wednesday. Ahead of the da ...Full Story»

Pound Climbs Following Strong U.K. Inflation Data (08 min(s), 29 sec(s) ago)
(RTTNews) - The pound firmed against its major counterparts in the European session on Wednesday, ...Full Story»

Euro Little Changed After Eurozone Inflation (08 min(s), 29 sec(s) ago)
(RTTNews) - At 5.00 am ET Wednesday, Eurostat has published euro area final consumer price data fo ...Full Story»

Search

FOREX NEWS

Euro Ticks Up After ECB Decision

01/21/2021 - 07:49 AM (RTTNews)
(RTTNews) - As expected, the European Central Bank maintained its refi rate at 0.00 percent and th ...Full Story>>

Euro Mixed Ahead Of ECB Decision

01/21/2021 - 07:40 AM (RTTNews)
(RTTNews) - The European Central Bank will announce interest rate decision at 7:45 am ET Thursday. ...Full Story>>

Yen Rebounds After BoJ Holds Monetary Policy Steady

01/21/2021 - 01:51 AM (RTTNews)
(RTTNews) - The Japanese yen erased its early losses against its major opponents during the Asian ...Full Story>>

Fall In Jobless Rate, Fiscal Stimulus Hopes Lift Australian Dollar

01/21/2021 - 00:06 AM (RTTNews)
(RTTNews) - The Australian dollar firmed against its major counterparts in the Asian session on Th ...Full Story>>

Loonie Little Changed Following Canada CPI

01/20/2021 - 08:37 AM (RTTNews)
(RTTNews) - After the release of Canada consumer inflation for December at 8:30 am ET Wednesday, t ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.