{"id":112970,"date":"2021-02-16T05:59:13","date_gmt":"2021-02-16T05:59:13","guid":{"rendered":"https:\/\/precoinnews.com\/?p=112970"},"modified":"2021-02-16T05:59:13","modified_gmt":"2021-02-16T05:59:13","slug":"dollar-hits-the-doldrums-as-recovery-optimism-thrives","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/economy\/dollar-hits-the-doldrums-as-recovery-optimism-thrives\/","title":{"rendered":"Dollar hits the doldrums as recovery optimism thrives"},"content":{"rendered":"
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SINGAPORE - The U.S. dollar was pinned down on Tuesday, as vaccine optimism boosted the British pound to an almost three-year high, while rising oil prices and buoyant expectations for global recovery supported commodity and trade-exposed currencies.
\nIn trade thinned by Lunar New Year holidays in China and Monday’s U.S. holiday, the positive mood also weighed on the safe-haven yen which made a one-week low on the dollar overnight and fell to more than two-year lows on the euro and the Aussie.<\/p>\n
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The U.S. dollar index, which measures the dollar against a basket of six major currencies, sat at 90.351, not far above a two-week low it struck last Wednesday.<\/p>\n
CRYPTOCURRENCIES NOW 'PRICELESS' WITH MASTERCARD<\/strong><\/p>\n The Chinese yuan, a favoured vehicle for playing the dollar’s weakness in Asia, was on the brink of strengthening past 6.4 per dollar for the first time since mid-2018 and last stood at 6.4033 in offshore trade.<\/p>\n The risk-sensitive Australian dollar held near Monday’s one-month high at $0.7785.<\/p>\n