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shared by anonymous on 25 Feb 21 - No Cached

The dollar index dropped on Thursday, risk currencies rose to three-year highs and the euro continued its surge against the Swiss franc, as currency markets were boosted by dovish signals from the U.S. Federal Reserve.
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Easy financial conditions, the promise of fiscal stimulus and accelerating COVID-19 vaccine rollouts have driven money into what is known as the reflation trade, referring to bets on an upswing in economic activity and prices.
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market participants expect the bull run in global stocks, fuelled by cheap liquidity and reflation hopes, to continue for at least another six months.
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As world shares rose, the dollar weakened, and was down 0.3% against a basket of currencies at 89.754 at 1222 GMT.The Australian dollar rose against the U.S. dollar, crossing $0.8 for the first time in three years.The Canadian dollar also hit new 3-year highs against the U.S. dollar, up 0.3% at 1.2481 at 1224 GMT.
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the reflation trade can benefit commodity currencies because commodity prices go up… but they also tend to benefit because of dollar weakness when stock markets come back in as well,
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