What you need to know on Tuesday, February 23:
The US dollar fell against all of its major rivals amid renewed market optimism. The dollar balanced between gains and losses alongside Treasury yields, which hit new highs to date, falling sharply during US business hours.
The British pound received a boost from British Prime Minister Boris Johnson, who revealed the government’s plan to break out of the lockdown. Johnson explained that the restrictions will be eased in four steps, with a minimum of five weeks between each step. The final stage, which will lift all social restrictions and allow the reopening of all sectors of the economy, will begin no earlier than June 21. The GBP/USD shot up to 1.4085.
The Australian dollar was among the best performers, with AUD / USD settling in the 0.7920 price zone, a new three-year high. The USD / CAD pair extended its yearly decline by a few pips, ending the day around 1.2600. The shared currency was the worst performer as EUR / USD failed to break above the 12170/80 price zone.
In the United States, Dallas Fed Chairman Robert Kaplan said he expects the unemployment rate to return to pre-pandemic levels, below 4%, in 2022.
Gold recovered $ 1,800 to $ 1,807 per troy ounce. Crude prices also resumed their gains, with the WTI closing the day at $ 61.50 a barrel.
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