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On Wednesday, the evergreen buck tumbled versus other key rivals because market participants were still cautious ahead of the Fed’s policy decision due later in the day and amid renewed geopolitical concerns.
The currency pair EUR/USD gained 0.12% getting to one-week maximum of 1.2010.
Market sentiment on the US currency was still fragile because market participants waited for the result of the Fed's monthly policy gathering.
The Fed was generally believed to leave interest rates intact, although it was expected to unveil plans to adjust its $4.2 trillion in bond holdings.
Market participants were cautious following renewed tensions between North Korea and the USA especially considering Trump’s recent hawkish statements.
Aside from that the currency pair GBP/USD leapt 0.18% being worth 1.3525, drifting away from Monday's 15-month maximum of 1.3619.
NZD/USD rallied 0.77% reaching a six-week peak of 0.7370.
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?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
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.
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