Hello everyone, as we all know the market action discounts everything :)
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The dollar rose in Asia on Thursday morning, but it remained near the low end of its previous range, as did the Japanese yen. However, movements remained minor due to holiday-thinned trading and as concerns about the omicron COVID-19 version dissipated.
The US Dollar Index, which measures the greenback against a basket of other currencies, had risen 0.01 percent to 95.935.
The US dollar was bolstered by rising US Treasury yields, with benchmark 10-year yields reaching 1.56 percent on Wednesday, the highest since Nov. 20, 2021.
After plunging to a one-month low of 115.03 on Wednesday, the USD/JPY pair gained 0.08 percent to 115.03.
The AUD/USD pair increased 0.19 percent to 0.7261, while the NZD/USD pair increased 0.22 percent to 0.6845.
The USD/CNY pair rose 0.02 percent to 6.3692, while the GBP/USD pair rose 0.04 percent to 1.3491.
The Turkish lira was trading at 12.6 per dollar in emerging markets after falling 6.9 percent on Wednesday. The lira has lost 40% of its value in 2021 thus far, but it gained more than 50% last week as a result of state-backed market interventions.
Turkish Finance Minister Nureddin Nebati said on Wednesday that the lira's present volatility was not cause for concern and that it would return to normal levels.
Despite a surge in COVID-19 cases worldwide as omicron spreads, investors' risk appetite increased as many governments refrained from lockdowns.
According to figures from Johns Hopkins University, the global case count surpassed 284 million as of December 30.
Other investors, however, cautioned against reading too much into the changes, since trades remained light as the year came to a close.
This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.
_________________________________Make sure to Like and Follow if you like the idea_________________________________
The dollar rose in Asia on Thursday morning, but it remained near the low end of its previous range, as did the Japanese yen. However, movements remained minor due to holiday-thinned trading and as concerns about the omicron COVID-19 version dissipated.
The US Dollar Index, which measures the greenback against a basket of other currencies, had risen 0.01 percent to 95.935.
The US dollar was bolstered by rising US Treasury yields, with benchmark 10-year yields reaching 1.56 percent on Wednesday, the highest since Nov. 20, 2021.
After plunging to a one-month low of 115.03 on Wednesday, the USD/JPY pair gained 0.08 percent to 115.03.
The AUD/USD pair increased 0.19 percent to 0.7261, while the NZD/USD pair increased 0.22 percent to 0.6845.
The USD/CNY pair rose 0.02 percent to 6.3692, while the GBP/USD pair rose 0.04 percent to 1.3491.
The Turkish lira was trading at 12.6 per dollar in emerging markets after falling 6.9 percent on Wednesday. The lira has lost 40% of its value in 2021 thus far, but it gained more than 50% last week as a result of state-backed market interventions.
Turkish Finance Minister Nureddin Nebati said on Wednesday that the lira's present volatility was not cause for concern and that it would return to normal levels.
Despite a surge in COVID-19 cases worldwide as omicron spreads, investors' risk appetite increased as many governments refrained from lockdowns.
According to figures from Johns Hopkins University, the global case count surpassed 284 million as of December 30.
Other investors, however, cautioned against reading too much into the changes, since trades remained light as the year came to a close.
This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.