【does 3 musketeers have peanuts】Dollar Up Despite Vaccine Approval and Possibility of U.S. Stimulus Measures
By Gina Lee
Investing.com – Thedoes 3 musketeers have peanuts dollar was up on Thursday morning in Asia, reversing its earlier downward trend even as the possibility of U.S. economic stimulus measures and the first approval of a COVID-19 vaccine increased investors’ risk appetites.
The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.04% to 91.037 by 9:58 PM ET (1:58 AM GMT).
Although Republicans and Democrats in Congress have yet to reach agreement over the latest stimulus measures’ price tag, investors remained optimistic that a $908 billion bipartisan proposal is slowly gaining traction.
Congress has until Dec. 11 to pass the $1.4 trillion budget or risk a government shutdown, adding a big incentive to reach a deal before the deadline.
Across the Atlantic, the U.K. became the first country to approve a COVID-19 vaccine, the BNT162b2 candidate jointly developed by Pfizer Inc (NYSE:PFE) and BioNTech SE (F:22UAy), on Wednesday. Inoculation of those most as risk is expected to begin early in the following week.
The news helped to give the euro a boost, despite expectations that the European Central Bank (ECB) will enhance its quantitative easing when it convenes for its monetary policy meeting on Dec. 10.
"On the whole, the new U.S. economic team under President Biden will be dovish, if not directly pursing a weaker dollar per se … the next target for the euro should be its February 2018 peak of $1.2555. When the ECB eases its policy next week as expected, I bet the euro will gain rather than fall," Sumitomo Mitsui (NYSE:SMFG) Bank chief strategist Daisuke Uno told Reuters.
The USD/JPY pair inched up 0.10% to 104.50. Japan’s
services Purchasing Managers' Index (PMI)
came in at 47.8 in November, little changed from October’s figure of 47.7.
The AUD/USD pair edged down 0.17% to 0.7402. The AUD saw a 26-month high overnight as investors digested Wednesday’s positive data, including
GDP
, that showed that the Australian economy saw a stronger-than-expected bounce back in the third quarter. Across the Tasman Sea, the NZD/USD pair edged down 0.11% to 0.7061.
The USD/CNY pair edged down 0.12% to 6.5547. China released November’s
Caixin services PMI
which beat expectations by coming in at 57.8.
Investors are also looking at the offshore yuan, which saw a two and a half year high in November and continues to maintain its strength over expectations that U.S. President-elect Joe Biden’s administration will be more conducive to Chinese economic growth.
The GBP/USD pair inched up 0.03% to 1.3367. The pound was hovering near a three-month high, after trading unevenly during the previous session as Brexit talks between the U.K. and the European Union (EU) reach "a make-or-break moment", according to chief EU chief Brexit negotiator Michel Barnier.
Story continues
Envoys from EU member states also urged Barnier not to be rushed into an unsatisfactory agreement, even as the year-end deadline to reach a consensus looms closer.
The talks reportedly remain stalled, as they have been for the past few months, over issues such as fishing rights in U.K. waters, ensuring fair competition guarantees and ways to solve future disputes.
Related Articles
Dollar wallows near 2 1/2-year low on vaccine, stimulus optimism
Pound Skids to Three-Week Low as Mixed Messages on Talks Signals Stalemate
Pound Swings as Traders Brace for a Breakdown in Brexit Talks
View comments
-
Should You Sell in May or Buy 5 Top Coronavirus-Immune Stocks?Evaluating New Times Energy Corporation Limited’s (HKG:166) Investments In Its BusinessCullen/Frost Bankers Ends 2018 With a BangRegional observers endorse Congo's election - with caveatsBlockchain Could Make Dismantling Nuclear Warheads More Secure: UK ReportBRIEF-YFG Bhd Says Unit Accepted Letter Of AwardGo-Jek raises $1 billion in round led by Google, Tencent, JDNFL Secures Injunction Against 200 Unknown DefendantsPlastic Additives Market - Growth, Trends, and Forecast (2020 - 2025)The Week Ahead – Private Sector PMI, U.S Nonfarm Payrolls, and Central Banks in Focus
- ·What's in Store for Ambarella (AMBA) This Earnings Season?
- ·BRIEF-Jiangsu Yueda Investment Sold All Of Its Shares In Bank Of Jiangsu
- ·Should You Be Holding Yü Group PLC (LON:YU.)?
- ·KKR liquidates former Goldman Sachs traders-run hedge fund
- ·Sherwin-Williams (SHW): Strong Growth And Abundant Potential
- ·Wednesday Apple Rumors: AirPower Misses 2018 Release Window
- ·Jet Airways has agreed to Etihad's bailout terms, says report, boosting shares
- ·Social Security Schedule: When the First COLA Checks Will Arrive in January 2022
- ·VW's Skoda braces for second quarter hit after earnings drop
- ·6 Things Employees Should Know About the Family and Medical Leave Act
- ·Twitch's Top Streamer Made $10 Million in 2018
- ·Disney's Live-Action 'Mulan' Pushed Back to 2020
- ·Gamesys Group PLC Announces Total Voting Rights
- ·EM ASIA FX-Most Asian currencies weaken as growth fears set off 'flash crash'
- ·Trade Alert: The Independent Director Of Continental Resources, Inc. (NYSE:CLR), Timothy Taylor, Has Just Spent US$101k Buying 14% More Shares
- ·Deutsche Bank finally reported an annual profit, but all anyone cares about are merger rumors
- ·WhatsApp no longer supported on millions of phones
- ·K&L Gates, Withers Seal Singapore Mergers
- ·The Latest: Apple axes Google access to key developer tool
- ·Go-Jek Raises $1 Billion From Google, Tencent and Other Internet Giants
- ·Interactive Brokers' (IBKR) October DARTs Up on Higher Trading
- ·Stocks that moved substantially or traded heavily Monday
- ·Do You Like Intertrust N.V. (AMS:INTER) At This P/E Ratio?
- ·Cooley's Birger Returns to Manhattan US Attorney's Office as Chief of Criminal Division
- ·Pennsylvania's Democratic governor calls Trump remarks 'partisan attack'
- ·IAG CEO Walsh - No-deal Brexit would not impact passenger numbers
- ·Key Things To Watch Out For If You Are After Richardson Electronics, Ltd.'s (NASDAQ:RELL) 6.7% Dividend
- ·Oil Prices Fall in 2019’s First Trading Day as Supply Jumps, China’s Economy Slows
- ·A Closer Look At Alicon Castalloy Limited’s (NSE:ALICON) Impressive ROE
- ·U.S. banks 'well-positioned' to manage adverse market conditions -OCC spokesman
- ·How Does TCF Financial's (NASDAQ:TCF) P/E Compare To Its Industry, After The Share Price Drop?
- ·Why Ascena Retail Group Stock Jumped Today
- ·How Many Ares Commercial Real Estate Corporation (NYSE:ACRE) Shares Do Institutions Own?
- ·BRIEF-Binasat Communications Bhd Says Yap Nyuk Siam Appointed As CFO
- ·Despite Its High P/E Ratio, Is Ovzon AB (publ) (STO:OVZON) Still Undervalued?
- ·BRIEF-Tencent Holdings Reports 14.6 Pct Passive Stake In Qutoutiao As Of Dec 31, 2018 - SEC Filing