Dollar regains ground ahead of key US data
The US dollar rose against a basket of major currencies on Wednesday, to resume its gains after pausing yesterday due to profit-taking from 3-week high, ahead of the US inflation data for December.
The dollar index rose more than 0.3% to 90.32 points, after opening at 90.00 points, with an intraday low of 89.92 points.
The greenback fell 0.4% yesterday, its first daily loss in 5 days due to profit-taking from 3-week high 90.73 points.
The dollar's uptrend comes as the 10-year treasury yields jumped above the 1% barrier for the first time since March, and hit a 10-month high of 1.184%.
This came after the Congress ratified Democratic candidate Joe Biden's election victory, the Democrats' control over the Senate alongside the House of Representatives, as they intend to inject massive stimulus packages to help the economy recover from the coronavirus pandemic.
At 13:30 GMT, the US consumer prices are expected up 0.4% in December, while core prices are expected up 0.1%.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.2131
|
0.0066
|
0.5475%
|
|
|
|
|
1.3683
|
0.0134
|
0.9905%
|
|
|
|
Tadawul
|
8878.30
|
-29.61
|
0.33%
|
|
|
|
|
25.849
|
0.944
|
3.788%
|
|
|
|
|
53.061
|
0.761
|
1.455%
|
|
|
|
|
56.08
|
-0.23
|
0.41%
|
|
|
|
|
1870.810
|
34.695
|
1.890%
|
|
