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Currency: The dollar stabilizes

15/02/2021
Categories: Index/Markets

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The dollar stabilized on Friday against other major currencies. The dollar index, which measures the value of the greenback against a basket of other currencies, was up 0.03%.

In a market that was moving a little away from riskier assets and where volumes were reduced, the dollar index, which measures the value of the greenback against a basket of other currencies, grabbed 0.03% around 20:30 GMT (21:30 in Paris).
For foreign exchange traders, the record 9.9% decline in the British economy in 2020 is weighing on the pound. But the British currency has remained up since the beginning of the year against the dollar (+1.4%) and the euro (+2.2%).
"The UK economy is well placed to start a strong recovery, given the speed of the vaccination campaign," said Lukman Otunuga, an analyst at FXTM. Derek Halpenny, an analyst at MUFG, believes that the main event for the markets remains the evolution of the debates on the stimulus plan for the US economy.

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