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US Dollar Index Finds Support on Five-Month High Jobless Claims, Stimulus Hopes

Could the US dollar maintain its impressive start to 2021 on Thursday? Investors sought refuge from bearish data and economic uncertainty after the federal government reported the higher number of initial jobless claims in about five months. Financial markets are also waiting for President-Elect Joe Biden‘s stimulus and relief proposals, with only days until he is inaugurated.

USD/CHF Flat As Treasury Labels Switzerland, Vietnam Currency Manipulators

The Swiss franc is trading relatively flat against the US dollar in the middle of the trading week after the US government announced in a new report labeled Switzerland and Vietnam as currency manipulators. The move had been expected for quite some time as the central bank continually intervened in foreign exchange markets to limit the franc’s appreciation. Will this have dire consequences for bilateral relations?

Euro Falls Against Dollar as EU Countries Initiate 2nd Lockdown

The euro today fell against the dollar as eurozone countries initiated fresh lockdown measures to curb the rising coronavirus cases within their borders. The EUR/USD currency pair fell driven by safe-haven flows as investors bought the dollar to hedge against the risks posed by the coronavirus pandemic to the global economy.

USD/CHF Flat on Inflation, Investors Weigh SNB Comments

The Swiss franc is trading relatively flat against the US dollar to finish the trading week. The safe-haven asset, which has been one of the top-performing currencies in this year’s chaotic financial market, was struggling to find direction amid the latest producer and import prices and the central bank’s lack of enthusiasm over negative interest rates. Despite a bombardment of foreign exchange interventions, the franc continues to appreciate, frustrating policymakers.

Euro Rallies Against the Dollar on Upbeat Euro Area Macro Prints

The euro today rallied higher against the US dollar capitalising on the greenback’s overall weakness since yesterday’s speech by the Fed Chair. The EUR/USD currency pair also benefitted from the upbeat macro releases from across the euro area, which lent support to the single currency today.

USD/CHF Continues Slide Below 0.94 As SNB Defends Franc Interventions

The Swiss franc continues to strengthen against its most traded currency competitors to close out the trading week as the US Dollar Index slipped to a one-month low. The franc has been making gains on growing confidence in global financial markets, coronavirus vaccine hopes, and a weakening greenback. The franc is strengthening despite the central bank continuing to defend its currency interventions.

Euro Rallies on Upbeat Fundamental Releases From the Euro Area

The euro today rallied higher against the US dollar extending yesterday’s gains following the release of upbeat core inflation data from the eurozone. The EUR/USD currency pair capitalised on positive macro reports from across the euro area combined with the greenback’s overall weakness to inch higher.

US Dollar Jumps on Initial Jobless Claims Hitting Two-Month Low

The US dollar is strengthening on Thursday after the US government reported its lowest number of Americans filing for unemployment benefits since the COVID-19 crisis started two months ago. The news elevated the greenback, which also surged on weakening equities that have prompted global investors to pour into the traditional safe-haven asset this week.

Euro Hits Daily Highs on Fed Rate Decision and Mixed Eurozone Data

The euro today rallied to new daily highs against the US dollar following the FOMC rate decision, which was in line with analysts consensus estimates. The EUR/USD currency pair today alternated between gains and losses driven by mixed fundamental releases from across the eurozone.

Euro Falls Against US Dollar Due to Quarterly/End-Month Outflows

The euro today fell against the US dollar earlier in the session and was on track to book a loss for the second straight session as the greenback rebounded. The EUR/USD currency pair sold off amid end of month/quarter outflows in favour of the dollar, which could see the pair close lower for the month.

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