What you need to know on Wednesday, March 31:
The US currency rose against all of its major rivals, once again led by US Treasury yields. The 10-year yield reached 1.77%, its highest level since January 2020. The dollar also it was supported by upbeat local consumer sentiment, which remained strong throughout the US session even as yields fell back and US indices were bitter.
Investors await US President Joe Biden’s speech on Wednesday. It is expected to announce an infrastructure investment program of up to $ 3 trillion, which may also include tax increases. There are chances that your announcement will fuel an economic recovery in the country.
EUR / USD is trading near a new 2021 low of 1.1710, while GBP / USD hovered around 1.3720. The pound is partially resilient to the strength of the dollar as the UK continues to implement its reopening plan amid an improvement in the coronavirus situation in the country.
Gold prices fell and the shiny metal settled at $ 1,683 a troy ounce. Crude oil prices fell, affected by stocks, and the WTI ended the day around $ 60.40.
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