Market Boosts, US Dollar Makes ‘Comeback’! - - Financial Market Media No. 1 in the World Market Boosts, US Dollar Makes ‘Comeback’! Market Boosts, US Dollar Makes ‘Comeback’!

March 19, 2021

Market Boosts, US Dollar Makes ‘Comeback’!

The US dollar continued to surprise investors this week after seeing significant value volatility movements influenced by several key factors in the market.

After the FOMC meeting early Thursday morning left the US dollar depreciating sharply, expectations for the US dollar to continue to move weakly faltered as the king of the currency strengthened again in yesterday’s European session to continue into the New York session.

This was due to the surge in US treasury yields to 1.756% before declining slightly but still hovering above the 1.70% level.

This situation is seen again putting pressure on other major currencies in the market which had previously recorded gains.

European currencies again traded depreciating like the Euro and the Pound. The focus was also on yesterday's central bank of England (BOE) policy meeting which saw interest rates maintained and the bond -buying program maintained at £ 895 billion as expected by the market.

The development of vaccines in Europe, the European change agency has informed that the AstraZeneca Coronavirus vaccine is safe to use, allaying concerns over speculation of previously reported side effects of blood clots.

Several countries that have previously postponed vaccination programs have announced to resume vaccination in the near future.

Friday morning's Asian session will focus on the outcome of a policy meeting by the Bank of Japan (BOJ) after the central bank had earlier hinted for looser policy and would affect the Yen's movement in the market.