US dollar continues to slide
Dollar at the lows of the day
The US dollar is under broad pressure as the post-NFP slide in the dollar continues. At the moment, the euro, pound, yen, kiwi and Aussie are all at session highs against the dollar.
There is increasing optimism about the post-covid period as therapeutics and vaccination continue to improve. News last week of Pfizer’s anti-viral pill is an underrated positive development. Cases are also falling in most of the world. One exception is Germany, which is dealing with an unwelcome acceleration:
There’s an element of a relief rally here as well as the euro was battered by the ECB but is trying to reject new 16-month lows.