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Dollar Extends Weak Spell

Dollar Extends Weak Spell

The U.S. dollar was weak against most of its peers on Friday, as the currency’s safe-haven appeal lost some sheen again amid continued improvement in risk sentiment thanks to optimism about coronavirus vaccines.

The likelihood of a fiscal stimulus in the U.S. and recent weak economic data also weighed on dollar.

The dollar index slid to 91.76, giving up nearly 0.25% from previous close.

Against the Euro, the dollar weakened to $1.1964, going down by over 0.4%.

The Pound Sterling was weaker against the greenback, fetching $1.3301 per unit, after closing the previous session at $1.3358. Uncertainty about a Brexit deal was among the key factors that contributed to the British currency’s weakness.

The Yen firmed up to 104.46 a dollar, gaining from 104.26.

The Aussie was stronger by about 0.35% against the U.S. dollar, with the pair trading at 0.7387.

The Swiss Franc strengthened to 0.9047 from 0.9070 a dollar, while the Loonie was up at 1.2991 a dollar, firming up from C$1.3017.

The material has been provided by InstaForex Company – www.instaforex.com