Dollar falls as hopes for U.S. stimulus boost sentiment

20.01.2021 - Korneychuk Evgeniya
Dollar falls as hopes for U.S. stimulus boost sentiment

The dollar fell on Wednesday and the euro held on to gains as the sentiment improved amid big spending talk from U.S. Treasury Secretary nominee Janet Yellen.

The euro rose from support around $1.2050, gaining nearly 0.4% overnight to hit $1.2145. It held near that level in Asian trade.

The risk-sensitive Aussie and kiwi rose in morning trade to also cling on to overnight gains. The Aussie was up 0.2% to $0.7707 and the kiwi up 0.1% to $0.7122.

Joe Biden is inaugurated as U.S. President in Washington on Wednesday. However, investors are more concerned about his policies than the ceremony. 

The safe-haven yen last traded at 103.84 against the dollar. The Chinese yuan held on to gains in offshore trade at 6.4757 against the dollar. 

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