Dollar held down by doubts over US recovery; bitcoin retreats from record high | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN
- Date: 15-Feb-2021
- Source: The Daily Tribune - News of Bahrain
- Sector:Financial Markets
- Country:Middle East
Dollar held down by doubts over US recovery; bitcoin retreats from record high | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN
The dollar started the week pinned near two-week lows on Monday as traders questioned whether the recovery from the pandemic in the United States would be as fast as expected.
Bitcoin remained volatile, retreating to as low as $45,914.75 a day after reaching a record $49,714.66.
The world's most popular cryptocurrency had rallied 25% last week, driven by endorsements from Tesla and BNY Mellon, Reuters reported.
The dollar index slipped 0.1% to 90.336, close to last week's low of 90.249 - a level unseen since January 27.
The gauge hit a two-month top of 91.6 on February 5 on hopes that a US rebound would outpace other major economies, but has since pulled back amid disappointing employment data.
“Now the market is looking for actual evidence that the US economy is outperforming,” said Shinichiro Kadota, senior currency
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