During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
Evergreen buck stands tall following short-covering bounce
On Wednesday, the major US currency edged up versus a basket of crucial currencies, having obtained a boost yesterday because market participants adjusted their trading positions ahead of a global key bankers' conference.
The US dollar index, assessing the greenback versus a basket of six currencies, grew 0.1% hitting 93.605, contributing to its 0.5% revenue from yesterday.
On Tuesday, the greenback had ascended because the common currency was suppressed by a weaker-than-expected outcome on German investor confidence.
Ahead of Jackson Hole market participants have started reducing their short dollar trading positions.
The financial market will probably head for a holding pattern before the Jackson Hole symposium, as some financial experts state.
The greenback grew 0.1% hitting 109.71 yen, drifting away from a four-month minimum of 108.60 yen reached the previous week.
The common currency dropped 0.1% hitting $1.1748.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.