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Trump Gives Farewell Address; Stocks Higher, Yellen Discusses Dollar and Treasuries.
The pound sterling made some headway against a weaker greenback while simultaneously losing ground against the strengthening euro.
According to Reuters, President-elect Joe Biden’s nominee for Treasury Secretary, Janet Yellen, will tell the Senate Finance Committee that the US government must take strong action with its next coronavirus relief package.
Yellen Calls for U.S. Action; AUD, NZD Higher; Stocks Up.
For the third straight day, the US dollar gained strength relative to its peers, and the US Dollar Index hit a 4-week peak.
China's National Bureau of Statistics recently reported that the country's gross domestic product rose by 2.3% in 2020, its slowest pace since 1976, making China one of the few countries in the world that managed to grow during the year.
Yellen Hints no Weak Dollar Policy; Markets Mixed, Chinese Stocks Continue to Rise
The US Dollar lost positive momentum during choppy Asian trade after the chief of the Federal Reserve said that the US central bank would maintain low rates for the foreseeable future.
China: Grip on Hong Kong Tightens
China has arrested at least 50 Hong Kong activists over recent days whom the mainland views as opposition democracy leaders.
The pound sterling gained some momentum during London trading on Thursday on hopes that the economy will see a quicker recovery.
With the aid of 10 Republican Congressmen, the Democrat-controlled House of Representatives impeached US President Donald Trump, accusing him of inciting the siege on the Capitol that took place last week.
Hang Seng and Nikkei 225 Indices Again Hit All-Time Highs; Biden Plans $2 Trillion Stimulus; Forex Market Quiet & Mixed.
The pound sterling hit a 7-week peak against its main rival, the euro, during London trading on Wednesday.
The French central bank reported that the economy likely contracted by 4% in the final quarter of 2020, which confirms a previous estimate that the economy shrank by 9% last year.
Hang Seng and Nikkei 225 Indices Reach All-Time Highs; U.S. Dollar Retreats; Data in on Coronavirus Vaccines.