Investing.com-The U.S. dollar rose in Asia in early trading on Thursday, but fell from a multi-month high as strong earnings boosted global stock markets and increased investor risk appetite.
As of 11:41 pm Eastern Time (3:41 am GMT), tracking the exchange rate of the US dollar against a basket of other currencies rose slightly by 0.03% to 92.787.
As the Japanese market was closed for a holiday, the currency pair fell slightly by 0.12% to 110.13.
The Australian dollar rose slightly against the U.S. dollar from an eight-month low hit on Wednesday, and the currency pair fell 0.06% to 0.7353. Queensland closed its border with New South Wales to curb the spread of COVID-19 in Sydney, and the 17th released earlier in the day was also lower than expected.
The currency pair fell 0.26% to 0.6951, and the currency pair rose 0.01% to 6.4672.
The currency pair fell slightly by 0.02% to 1.3707. The pound recovered from a five-and-a-half-month low of 1.35725 hit on Tuesday, although the number of COVID-19 cases involving the Delta variant in the UK continues to rise, and the removal of restrictive measures in the UK is still confusing.
National Australia Bank (OTC:) analyst Tapas Strickland (Tapas Strickland) said in a report: “Strong earnings have eliminated Delta’s concerns about the United States,” suppressing safe-haven currencies. The report added: “The consensus is that the Delta strain does not pose a direct risk to recovery.” As countries increase vaccination efforts, the reopening will be postponed by up to three months.
The euro traded at $1.1789 against the U.S. dollar and climbed above Wednesday’s three-and-a-half-month low later in the day. The European Central Bank will change its strategy for the first time, and the market is generally expected to maintain a dovish stance, which may weaken the euro in the medium term.
“In general, the European Central Bank’s new inflation target indicates that monetary policy will remain ultra-loose for a longer period of time,” said Commonwealth Bank of Australia (OTC:) strategists Kim Mundy and Carol Kong, which will be detrimental to the euro. influences. Written in the research notes.
“In fact, we expect the European Central Bank to be one of the last central banks we covered to tighten policy,” the report added.
It will also announce its policy decision later in the day.
In terms of cryptocurrency, Bitcoin recorded its biggest increase since mid-June 2021. Previously, Tesla Inc. (NASDAQ:) CEO and Ark Investment Management Inc. CEO Casey Wood Its prospects were discussed at the Word conference. Musk also added that Tesla is “very likely” to resume accepting Bitcoin payments.
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