Forex News

The Dollar Up but with a Recorded Weekly Loss

The Dollar Up but with a Recorded Weekly Loss


The doubt on U.S. economy recovery headed the Dollar to its first weekly loss despite the high early in the day.

The Dollar Index was up 0.1% at 90.487, however, keep falling 0.6% this week.
The USD/JPY inched up 0.2% at 104.88.
The EUR/USD slightly down 0.1% to 1.2125.
The AUD/USD inched up 0.1% to 0.7746.

GBP/USD inched down 0.2% to 1.378 following the release of data showing Britain’s economy contract 9.9% in 2020.
United Kingdom GDP increased 1% more than expected in the final quarter of last year.

The possibility of Britain falling into recession due to this release is abandoned.
Regardless the economy is ready to shrink abruptly in 2021 because of the ongoing Pandemic Lockdown. Citizens are expecting the situation to be normal by the recent vaccination rollout.

Moreover, USD/RUB rose 0.4% to 73.9209, Bank of Russia anticipated detaining its key rate same at 4.25% later Friday.

International Monetary Fund mentioned in the latest release that Russia should decrease interest rates by essentially 50 basis points in the coming months to stop inflation.