Dollar dives to 3-week low

The US dollar fell against a basket of major currencies on Tuesday, to deepen its losses for the second straight day, and hit a 3-week low due to the slowing demand, and improved investors' risk appetite on hopes for a fast global economic recovery from the Covid-19 pandemic impact.

The dollar index fell 0.3% to the lowest since January 26 at 90.11 points, after opening at 90.29 points, and hit an intraday high at 90.37 points.

The index lost 0.1% on Friday, its sixth loss in 7 days, as investors shifted to other riskier currencies.

Sentiment improved in most global stock and bond markets, which is reflected in the European stocks jump to 1-year high, and US Wall Street jump to new records.

UK's Prime Minister Boris Johnson will decide in the next few days on the date of the end to the general lockdown in the country after vaccinating 15 million of British citizens.

The World Health Organization (WHO) officially agreed to grant emergency use to the Covid-19 vaccine developed by AstraZeneca and the University of Oxford.

The 10-year US Treasury bonds yield rose more than 5% on Tuesday, extending gains for the third straight day and hit an 11-month high of 1.265%, thanks to the US strong inflation outlook.