Earlier, an Italian bond auction was deemed successful, even though yields were high. A great deal of the debt in question was bought, and it turned out to be a bigger success than last week’s German bund auction. As a result, Forex traders are hopeful.
There is no need for the stability of the US dollar right now, as traders look to riskier assets for higher yields. Even the euro, a currency that was struggling earlier, is turning around and heading higher against the dollar.
For now, it’s all about risk. Equities are higher on the optimism related to a strong holiday season. Cyber Monday and Black Friday were both great successes, and that is helping equities. Commodities are also higher, with oil prices rising, and gold prices firming. Higher commodities will put pressure on the US dollar, since they often move inversely to each other.
At 16:22 GMT, the dollar index is lower at 78.9800. EUR/USD is higher at 1.3331, up from the open at 1.3319. GBP/USD is higher at 1.5619, up from the open at 1.5508. USD/JPY is lower at 77.8520, down from the open at 77.9825.
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Earlier News About the US Dollar:
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