empty
 
 

2021.03.0321:13:00UTC+00Dollar Gains Against Peers

The U.S. dollar firmed up against other major currencies on Wednesday, as Treasury yields rose on hopes that U.S. fiscal stimulus and vaccine rollouts will boost global economic recovery and spur inflation.

U.S. President Joe Biden said Tuesday that the U.S. expects to take delivery of enough coronavirus vaccines for all adults by the end of May.

Traders were also focusing on the developments on the stimulus front.

In economic news, data from payroll processor ADP showed that U.S. private sector employment increased much less than expected in February, rising by 117,000 jobs after climbing by an upwardly revised 195,000 jobs in January.

Economists had expected employment to increase by 177,000 jobs compared to the addition of 174,000 jobs originally reported for the previous month.

The dollar index rose to 91.06, rallying well from a low of 90.63 touched in the Asian session. Despite paring some gains subsequently, the index was up 0.21% at 90.98 a little while ago.

Against the Euro, the dollar firmed up to $1.2064, gaining 0.22%.

The Pound Sterling was almost flat at $1.3951, after having advanced to $1.4006 earlier in the day. Survey results from IHS Markit and Chartered Institute of Procurement & Supply showed that the UK service sector output declined only moderately in February.

The final services Purchasing Managers' Index rose to 49.5 in February from an eight-month low of 39.5 in January. The flash score was 49.7.

The Yen weakened to 107.02 a dollar, sliding from 106.69.

The Aussie was down nearly 0.6% with the AUD-USD pair at 0.7776 a little while ago, compared to previous close of 0.7820.

The Swiss franc, at 0.9200, was nearly 0.6% down from Tuesday's 0.0148. Switzerland's consumer price index decreased 0.5% year-on-year in February, same as seen a month earlier, data from the Federal Statistical Office showed. Economists had expected a 0.3% fall.

The Loonie weakened to 1.2656 from 1.2635. Data from Statistics Canada showed building permits in Canada increased 8.2% to an all-time high of C$ 9.9 billion in January, beating forecasts for a 3.5% increase.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback