Dollar gives up 4-week high ahead Janet Yellen's testimony

2021-01-19 15:46:41 GMT (Economies.com)
Dollar gives up 4-week high ahead Janet Yellen's testimony

The US dollar fell on Tuesday, giving up the 4-week high that was hit yesterday on profit-taking, and ahead of the US Treasury Secretary nominee Janet Yellen's testimony before the US Congress.

 

The dollar index fell more than 0.3% to 90.44 points, after opening at 90.73, and hit a high of 90.76.

 

The greenback gained 0.1% yesterday, in the second straight daily gain, and hit a 4-week high at 90.95 points.

 

The markets are waiting the testimony of former Federal Reserve's Chief Janet Yellen before the Senate at 17:00 GMT, after she was picked by the US President-elect Joe Biden for the lead of the Treasury Secretary.

 

NBC News said Yellen will stress before Congress that the country is heading towards a painful recession unless more aid is approved and the Congress will need to act big.

 

The Wall Street Journal reported that Yellen will confirm a more traditional commitment to market-set currency rates during her testimony today in the US Senate, which is the opposite of the outgoing President Donald Trump's stance, as he often criticized the dollar's strength

 
 
 
  Symbol Last Change Chg.%
1.1911
-0.0143
1.1851%
1.3838
-0.0097
0.6972%
Tadawul
9242.28
-68.88
0.74%
25.247
-1.621
6.035%
66.283
4.812
7.828%
69.56
2.85
4.27%
1700.790
-39.040
2.244%
 
 
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