Global investors were all in risk seeking mode in the first full week of 2021. That came despite all the headlines of surges in coronavirus infection and death, return to strict lockdowns, chaos in Washington and Joe Biden's certification as US President-Elect. Dollar didn't perform too well but there was surprisingly no deep selloff neither. Strong rally is US treasury yield was probably finally giving Dollar some support, which was in turn reflected in the selloff in Gold too. Is Dollar's finally building a base for sustainable rebound? We'd likely see very soon. Staying in the currency markets, selling focus turned to the Japanese Yen. Sterling followed Yen and Dollar and ended as the third weakest. Australian Dollar ended as the strongest one, followed by New Zealand Dollar. Other major currencies are generally mixed, including the Canadian, which reacted little to rise in oil prices. |
