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Euro Falls to New 2021 Lows Against Dollar as US Treasury Yields Soar

The euro fell to new 2021 lows against the dollar despite the release of upbeat macro reports from across the euro area as investor sentiment remained bearish. The EUR/USD currency pair’s decline was fueled by the dollar’s overall strength buoyed by the rising real US 10-year Treasury yields that lifted the world’s reserve currency.

Euro Falls Despite Positive German GfK Data as US GDP Beats Estimates

The euro fell against the dollar for the third consecutive session despite the release of upbeat consumer data from Germany amid weak investor sentiment. The EUR/USD currency pair later extended its losses after the release of upbeat US macro reports, which boosted the greenback at the euro’s expense.

NZ Dollar Little Changed During Slow Start of Week

The New Zealand dollar did not move far today, paying little heed to domestic macroeconomic data released overnight. The start of the week is expected to be a slow one due to few notable events or macroeconomic releases scheduled for the first two days.

Euro Rises to 6-Week Highs on Upbeat Euro Area Data, Risk-On Sentiment

The euro soared against the dollar amid a series of upbeat macro releases from across the euro area combined with the positive investor sentiment. The EUR/USD currency pair’s rally was also boosted by positive comments from a senior European Central Bank policymaker and the dollar’s weakness.

Mexican Peso Joins Latam Currencies, Falls amid Rising Inflation

The Mexican peso is weakening against its US peer on Tuesday, joining the broader decline among Latam currencies. The peso failed to trend higher amid rising inflation and the Supreme Court striking down the government’s reform proposals. Investors are also monitoring the nation’s vaccine rollout that has been described as “disastrous” among observers, with the president promising to have enough vaccines to treat all seniors.

Euro Falls As ECB Mulls a Rate Cut to Weaken the Euro and Boost Inflation

The euro fell against the dollar after officials from the European Central Bank clarified that they would intervene if the single currency’s strength affected inflation. The EUR/USD currency pair’s decline later recouped some of its losses in a snapback move as the US Dollar Index fell triggering a recovery by its peers including the euro.

Euro Rallies Despite Dovish ECB Comments and Italy Political Crisis

The euro rallied against the dollar despite a deluge of mostly negative comments and events from across the eurozone that could have derailed its rise. The EUR/USD currency pair rose buoyed by the risk-on market sentiment that saw riskier assets such as stocks rally at the expense of safe-haven assets.

Japanese Yen Weakest as Traders Don’t Feel Need for Safety

The Japanese yen was the weakest major currency on the Forex market today as traders did not feel a need for safety, dumping the currency. Surprisingly, the Swiss franc avoided a similar fate despite also being considered a safe-haven currency.

Turkish Lira Strengthens As Central Bank Raises Interest Rates Again

The Turkish lira recorded a massive gain against the US dollar on Christmas Eve, driven by the central bank tightening monetary policy and raising interest rates again in its final policy meeting of 2020. Over the last two months, the lira has significantly rebounded after falling to fresh all-time lows. And, according to the early forecasts, the lira could strengthen even more heading into 2021.

Yen Soft After Economic Data, BoJ Deputy Governor’s Comments

The Japanese yen was very weak today. In fact, it logged losses against all other most-traded currencies. Domestic macroeconomic data was decent, therefore it could not be the reason for the weakness. Dovish comments of the central bank’s deputy governor, on the other hand, could.

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