I don't think the US Dollar is strong again - Kakiforex.com - Financial Market Media No. 1 in the World I don't think the US Dollar is strong again I don't think the US Dollar is strong again

March 14, 2021

I don't think the US Dollar is strong again

 Unexpectedly, the US dollar returned to strengthen in today's trading session after falling to a one -week low against a group of major currencies on Thursday.


The 10 -year U.S. treasury yield, which rebounded to a one -year high of 1.6%, has been a key driver of the U.S. dollar’s ​​rise.


The dollar index that measures the strength of the greenback dollar against most major currencies is at 91.83.



US President Joe Biden has signed a $ 1.9 trillion stimulus package, a day after the House of Representatives gave approval for its implementation. U.S. Treasury Secretary Janet Yellen said a $ 1,400 direct payment would begin to be received over the weekend.


The strengthening of the greenback dollar again pushed the euro to decline lower to the price support level zone of 1.19000. The dovish statement from the European Central Bank (ECB) added to the pressure on the euro.


Meanwhile, Europe may face the issue of slower vaccine launch following the latest problems arising from the AstraZeneca vaccine which is alleged to affect recipients causing many European countries to have to postpone its use.


The pound also depreciated against the USD. Although the published economic data was better than expected, the current level of gross Domestic Product (GDP) is still much smaller than the growth recorded in February 2020.