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Canadian Dollar Rallies on BoC Rate Decision and Biden Inauguration

The Canadian dollar today rallied higher against its US peer after the Bank of Canada left interest rates unchanged with a bullish economic outlook. The USD/CAD currency pair fell to new multi-year after Joe Biden’s inauguration marked the end of the Donald Trump era.

US Dollar Rises Amid Higher Price Inflation, US Impeachment Vote

The US dollar is trading higher as investors take more of a cautious approach to the financial markets in the middle of the trading week. Traders are combing through the data, including consumer prices and mortgage lending, but they are also keeping an eye on the US impeachment vote. The greenback is continuing its surprisingly strong start to 2021, but can the currency keep up the momentum?

US Dollar Finds Support on Washington Chaos, Lower Jobless Claims

The US dollar is extending its winning streak to two sessions toward the end of the first trading week of 2021. The greenback, which has come under pressure over the last nine months, is finding support in the political chaos unfolding in Washington during the final days of President Donald Trump’s tenure. The buck’s ascent occurred alongside a rally in the financial markets and bullish economic data.

US Dollar, Treasurys Rise As Mike Pence Rejects Trump’s Call To Overturn 2020 Election

The US dollar found support on Wednesday after a barrage of American political developments dominated the news cycle. The greenback recorded modest gains against many of its currency rivals in the aftermath of the Georgia special election. Vice President Mike Pence also impacted the financial markets by declaring that he is not overturning November’s presidential election result.

US Dollar Flat As 10-Year Treasury Tops 1% Amid Georgia Special Election

The US dollar is struggling to find direction in overnight trading as the Georgia runoff elections go down to the wire. With control of the US Senate in the balance, financial markets have been paying close attention to the electoral outcome of the race that is critical for both parties. The result could have a considerable impact on fiscal policy moving forward.

Euro Rallies on Improved Sentiment After US Stimulus Checks Vote

Today, the euro rallied against the dollar boosted by the risk-on market sentiment as global equities rallied just two days to the end of 2020. Investors remained bullish on the markets boosted by the US’s positive stimulus news, where lawmakers almost approved $2,000 stimulus checks.

US Dollar Slips on Trump Signing Coronavirus Relief Package

The US dollar is showing some weakness to start another holiday-shortened trading week as investors’ risk appetite increased on President Donald Trump signing the coronavirus relief and government spending packages. Despite hesitation from Trump over the last week, he signed the legislation into law, giving the broader financial markets some gains in the final few sessions of 2020.

USD/TRY Tests 7.9 as US Sanctions Outweigh Positive Economic Data

The Turkish lira is weakening against the US dollar to kick off the trading week. The lira is coming under pressure after the US government slapped sanctions on Turkey over its purchase of Russian S-400 missiles. The economic and geopolitical fallout over sanctions triggered consternation in foreign exchange markets that positive economic data were not enough to support the lira.

Chinese Yuan Pauses Rally Amid Escalating Sino-US Tensions

The Chinese yuan retreated from its best level in more than two years to kick off the trading week, driven mostly on escalating Sino-US geopolitical and trade tensions. But the pullback was capped by better-than-expected exports in November, signaling that the world’s second-largest economy is recovering at a healthy pace.

Chinese Yuan Shrugs Off Report Joe Biden Will Not Remove Tariffs on China

The Chinese yuan is shrugging off a report that President-Elect Joe Biden would not immediately remove the higher tariffs placed on the world’s second-largest economy. The yuan, which has been one of the top-performing currencies in foreign exchange markets, maintained its upward trajectory as it looks to test 6.5 against its US peer.

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