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The euro, the Australian dollar and the New Zealand dollar reached their two-year highs against the US dollar on Wednesday, and investors anticipate that US authorities will take further steps to support the economy, positioning themselves for low transaction volume in the end. of the year, Reuters reports.
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Investors are counting on improving economic prospects, with the start of vaccines for Covod-19 and the distribution of unprecedented monetary and fiscal stimulus measures, which will support the growth of the global economy and asset prices in 2021, reports News.ro.
However, investors expect growth in the US economy to be lower than that of other developed economies, as the US currency is affected by the worsening budget and current account deficits, in the context of an increase in public spending to offset the blocking of companies due to the pandemic. of coronavirus.
Data released Wednesday showed that the advanced goods trade deficit rose to a record $ 84.8 billion in December from $ 80.3 billion in November.
The dollar fell 0.39% against a basket of currencies to 89.65, and during transactions it fell to 89.56, the lowest level since April 2018. This year, the dollar fell more than 7%.
The volume of transactions is down, many merchants are on vacation between Christmas and New Years.
The euro reached $ 1.2310 per unit, before returning to 1.2292, an advance of 0.34% for the whole day.
The Australian dollar rose to $ 0.7686 per unit, up 0.93% to $ 0.7676. The New Zealand dollar reached $ 0.7213 per unit, then was up 0.74% to $ 0.7200 per unit.
All three currencies reached the highest level against the US dollar in April 2018.
The dollar also fell 0.19% to 103.23 yen per unit, just above a nine-month low of 102.86 yen on December 17.
President-elect Joe Biden is expected to promote new measures to support the US economy after he takes office on January 20.
The pound advanced in turn after British lawmakers adopted the post-Brexit deal with the European Union. The pound rose 0.87% to $ 1.3618 per unit, just below $ 1.3625 per unit, the highest level since May 2018 reached earlier this month.
Bitcoin hit a record high of $ 28,917, up from 300% this year.
The dollar also fell 0.37% against the Canadian dollar at 1.2765 Canadian dollars per unit.
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