- The USD/JPY to allow the pushes more towards 107.50, on a strong appetite for risk.
- The US Dollar Index fell below 100, the U.s. session.
- Wall Street, the major indexes pushed more on Monday.
The USD/AUD stretched higher in the first trading hours of the American session and reached a fresh daily, this is the top of 107.49. While the pair has deviated slightly in the last hour, it has been seen for the last time, gaining 0.32% on the day at 107.37.
The market risk on the environment, ” Monday seems to be weighing on the refuge JPY. Stimulated by an increase of the hope of a global economic recovery, and a renewed optimism on a corona virus vaccine is a lift to global stock indexes up. At the time, in Germany, the DAX 30 has increased by more than 5% on the day, and wall Street, the major indices are gaining between 2.15% and 3.6%.
On the other hand, the USD is also struggling to find demand as a risk-sensitive currencies like the EUR and the GBP, we are attracting investors. With the U.S. Dollar Index is losing 0.5% on the day and close of 99.80, the pair is to the upside remains capped for now.
The Focus shifts to the FOMC meeting, Chairman Powell’s testimony
In the first trading hours of the Asian session on Tuesday, Industrial Production and Capacity Utilization data from Japan, will be looked at for a new impetus. More importantly, the FOMC Chairman, and Jerome Powell will be called to testify before the Senate Banking Committee on Tuesday.
In an interview Sunday, secretary Powell reiterated that there is no limit to what the Federal Reserve might do with its business activities. “The Fed is not out of ammunition, by a long shot,” Barry explained. “We can expand existing programs or add new ones, add to asset purchases as needed.”