This is what you need to know to operate this Friday, February 12:
The US dollar remained the weakest currency in the foreign exchange market, although it managed to regain some ground before the daily close. The dollar advanced while Wall street fell, without a clear catalyst behind the latest crash.
EUR / USD reached 1.2149, a new weekly high, while GBP / USD remained above 1.3800. The Australian dollar was the best performer, reaching 0.7771 against its American rival.
The gold prices fell along with stocks. The shiny metal closed at $ 1,825 a troy ounce, its lowest level since February 8. Crude oil prices remained near their recent highs.
Reuters reported that US House Speaker Nancy Pelosi expects US President Joe Biden’s COVID relief plan to be ready by the end of February, before benefits expire for unemployment on March 14. Also, US President Joe Biden to meet with a bipartisan group of senators to seek support for a major infrastructure spending program.
Sharon Peacock, head of the UK COVID-19 Genomics consortium, said the local variant is a concern as she said it is “likely to spread across the world” and could affect the efficacy of vaccines.
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