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15.02.2021_Weakening of the dollar due to doubts about the pace of US recovery; Bitcoin drops from the record price

The dollar began this week near two-week lows as traders began to question whether the recovery from the pandemic in the United States would be as fast as expected.


Bitcoin remained volatile, down $ 45,914.75 after reaching a record $ 49,714.66.

The world’s most popular cryptocurrency rose 25% last week, thanks to support from Tesla and BNY Mellon.


Rival cryptocurrency ethereum, which is often traded in tandem with bitcoin, fell 4.3% to $ 1,725. It happened after reaching a record high on Saturday – $ 1,874.98.


The Dollar Index fell 0.1% to 90,336, which is close to last week’s low of 90.249, the lowest level since January 27.

The Dollar Index reached a two-month high of 91.6 on February 5, hoping that the US will overtake other major economies, but has since declined only due to unsatisfactory employment data.


“Now the market is looking for real evidence that the US economy is performing well,” said Shinichiro Kadota, chief monetary strategist at Barclays Capital.


The euro strengthened slightly by 0.1% to $ 1.21315. It follows the 0.6% strengthening from last week.


The dollar strengthened by 0.1% to 105.04 yen and recovered from a loss of 0.4% last week.


Risk currencies strengthened against the dollar – the Australian dollar by 0.3% to 0.77795 USD shortly after reaching a monthly high of 0.7785.


The British pound strengthened by 0.3% to $ 1.3895 and reached a nearly three-year high of $ 1.3901.


The Chinese yuan reached its strongest level since June 2018 at 6.4012 per dollar.



Source: Reuters.com


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