The optimism amid the vaccine’s effectiveness and the high chances that the US will extend its stimulus measures are fueling interest in high-yield currencies. As a result, the US dollar was losing in value again during the European session on Wednesday.

The US dollar index, which measures the US dollar against a basket of six major currencies, fell by 0.2% to 91.157. This is the lowest level since April 2018.

EUR/USD hit its highest level in two years, climbing by 0.2% to 1.2081. It happened thanks to strong macroeconomic data from Germany. Thus, retail sales advanced by 2.6% in October.


USD/JPY rose by 0.2% to hit 104.47. The risk-sensitive AUD/USD grew by 0.2% to 0.7381.

On Tuesday, during the Senate Banking Committee, Jerome Powell stated that the US economy is still unstable. He was calling on Congress to provide additional financial assistance.

At the same time, a bipartisan Senator’s group presented a $908 billion emergency support project for the US economy to overcome the pandemic’s consequences.

The effectiveness of the developed vaccines against coronavirus is really high. In this regard, the companies developing them send requests to regulators for the use and registration of their drugs.

For example, on December 17, the US medical regulator FDA will consider Moderna’s application for the COVID-19 vaccine at the meeting of the regulator’s advisory committee.

GBP/USD rose by 0.2% to trade at $1.3438. It is close to a three-month high. Moreover, there are rumors that the EU and the UK will not be able to agree on the Brexit deal.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.