The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
Tag - nzd - new zealand dollar
The dovish Fed and the weak US inflation data pressed the dollar down. Meanwhile, the earnings season goes on. Today PepsiCo and Disney will publish their earnings reports.
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New Zealand published encouraging labor data. Stock indices surged on better-than-expected earnings of Google and Amazon.
The USD is rising for the third day in a row, stocks jumped as well after Alphabet( Google) and Amazon published better-than-expected revenues.
Asian shares climbed to near all-time highs on Monday as concerns over rising COVID-19 cases and delays in vaccine supplies were eclipsed by the optimism of a $1.9 trillion fiscal stimulus plan to help revive the US economy.
President-elect Biden will present details of his plans to support the economy through the pandemic, while Federal Reserve chairman Jerome Powell may offer some reaction in a speech later.
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Here's the technical analysis of USD/JPY, AUD/JPY, NZD/JPY, and silver!