Dollar Falls As Investors Cheered Vaccine Progress

Dollar Falls As Investors Cheered Vaccine Progress

22 Feb 2021 10:01 AM
 

The U.S. dollar was sold to multi-year lows against sterling, Australian and New Zealand currencies today, as investors cheered vaccine progress and wagered on the pandemic recovery bringing a global trade boom and an export windfall.

The U.S. currency, which is often considered a safe asset during times of uncertainty, is likely to fall further as more investors focus on economic recovery once the worst of the coronavirus pandemic passes.

Benchmark 10-year Treasury yields rose to 1.3940%, their highest since Feb. 2020.

The U.S. dollar index was steady at 90.355.