US Dollar Eyes Fresh Two-Year Low as VIX Falls

The US Dollar is trading on its back foot again as USD price action plunges lower against key FX peers. News that president-elect Joe Biden will formally begin the transition process helped propel a risk-on move, which likely piggybacked on the market’s upbeat reaction to word that former Federal Reserve Chair Janet Yellen will be tapped for Treasury Secretary. Also, worse-than-expected consumer confidence data released shortly after the New York opening bell this morning could have contributed to an unwind of the positive response by USD price action to a solid US PMI report yesterday. US Dollar weakness across … (full story)

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