Dollar set to finish trading higher for a second week

Dollar set to finish trading higher for a second week

The US dollar is set to end the week higher than its peers. Sterling leads losses for G10 currencies as traders hold onto concerns over the viruses' impact to the local economy.



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  • FX Rates
    July 23, 2021

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  • USD

    The US dollar is trading higher today, set to strengthen for a second week. The greenback is supported by ongoing concerns of the virus and as traders bet on the Fed being closer to tapering than other major central banks.


    Sterling leads losses for G10 currencies following data that showed the economy slowed in July as the resurgence of the virus caused widespread staff shortages.

    EUR/USD remains largely unchanged, keeping a tight range of 1.1755-1.1786. Concerns remain on the euro-area outlook as businesses caution over shortages of raw materials, delivery delays and rising costs.

    USD/CAD is trading within a tight range of 1.2555-1.2582. Bank of Canada announced that they would allow their employees to work remotely as much as 50% of the time. The central bank doesn’t expect a normal office ecosystem until 2022.


    USD/JPY is trading 0.3% higher today, with the pair up 0.5% for the week. NZD/USD is trading slightly higher after a travel bubble with Australia was suspended for at least 8 weeks.

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Cate Camerota
Cate Camerota

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