The US dollar performed less favorably when trading at a two-week low on Monday as confidence in the launch of the Covid-19 vaccine and the $ 1.9 trillion US stimulus package prompted investors to invest in risky currencies and stocks.
The weakness of the US dollar has prompted other currencies to soar. The pound has broken the $ 1.39 exchange rate against the US dollar as of 10.15 p.m. The euro rose 0.1% to $ 1.21310, up 0.6% from last week.
The US dollar index, which measures the greenback against the major, recorded a decline of 0.09% to the exchange rate of 90.392 as of 10.15 p.m.
Better risk appetite is also reflected in the equity market. The global stock market continued to jump on the 11th day in a row to new highs driven by investor confidence. However, tensions in Central Asia remain so that oil prices soared to 13-month highs.
Today, many financial markets in Asia and the United States are closed due to Chinese New Year Day and Presidential Day. Analysts at MUFG say the dollar could weaken further if market confidence remains.
On the other hand, the price of bitcoin is slightly volatile which ranges from $ 45,914.75 per day to $ 48,000 per unit.
