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US Dollar Outlook: DXY Eyeing Yearly Lows on Biden Fiscal Stimulus Bets


US Dollar Outlook: DXY Eyeing Yearly Lows on Biden Fiscal Stimulus Bets
2021-01-22 07:30:00
Daniel Moss,
Analyst
US Dollar, DXY, Fiscal Stimulus, Coronavirus Vaccinations, Jobless Claims – Talking Points:
Risk appetite notably faded during APAC trade as tightening coronavirus restrictions in Hong Kong weighed on market sentiment.
Loose monetary policy conditions and the prospect of additional deficit spending may cap the US Dollar’s potential upside.
The US Dollar Index (DXY) looks set to revisit the yearly lows as price continues to track within a Descending Channel.
Asia-Pacific Recap
Risk appetite appeared to fade during Asia-Pacific trade as tightening coronavirus restrictions outweighed fiscal stimulus optimism. Hong Kong’s Hang Seng index tumbled 1.32% after the government announced it will lockdown the core urban district of Kowloon. Australia’s ASX 200 slipped ....

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