Strong optimism weighs on the dollar
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Falling government bond yields pulled down the American dollar, which closed the day mixed across the board.
The 10-year Treasury note yield is currently around 1.93 percent, down from its weekly high of 1.97 percent.
The GBP/USD pair trades at around 1.3525 daily, while the EUR/USD pivots approximately 1.1430. The best performances were commodity-linked currencies, with the AUD/USD trading in the 0.7180 price range and the USD/CAD falling to 1.2670. Tiff Macklem, Governor of the Bank of Canada, addressed the Canadian Chamber of Commerce, emphasizing the significance of supply-chain difficulties in increased inflation. He expressed confidence that the problems would be resolved soon, even though the present truckers' disagreement could exacerbate the situation.
Gold reached a high of $1,835.81 per troy ounce and stayed there for the rest of the day. Crude oil prices were barely altered after the day, with WTI trading at $89.40 a barrel.
One day before the January Consumer Price Index release, the White House issued a warning about rising inflation.
Global indices ended the day in the green, with Wall Street gaining ground thanks to a rebound in the tech sector and positive earnings reports.
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