The dollar stays strong. What about other currencies?

In the forex market, the dollar seems to be the strongest currency. Meanwhile, the YenYen is the weakest one. The USD/JPY pair settled at a new multi-month high on Friday. Analysts don’t think it will rise in the coming days.

The forex market is expected to be quiet today as it is the beginning of the week, and there are no significant economic data releases. 

The EUR/USD pair stands at 1.1900. GBP/USD dropped below 1.3900, markets await UK PM Boris Johnson’s remarks on the vaccine rollout and £3 billion investment on 4,000 new zero-emissions busses. 

Among the G10 currencies, the Australian dollar is the weakest. AUD/USD pair dropped towards 0.7700. 

US stock indices are mostly higher, having risen on Friday on new hopes for a faster economic recovery pace in the US. The Dow 30 hit a new all-time high. The Dow is likely to continue rising for the next few days.

The market started the new week in a sour mood. Chinese activity data suggested an uneven recovery in the country. Sell-off in Chinese stocks dragged the rest of Asian and US indices lower.

The US treasury yields supported by the massive stimulus touched near yearly highs, fueling inflation risks.

Now the market is waiting for President Joe Biden’s speech about implementing his coronavirus rescue plan.

Netherlands has suspended the use of the AstraZeneca vaccine

Several countries, including the Netherlands, have stopped the AstraZeneca vaccine for fear that it could cause blood clots. The World Health Organization maintains that the vaccine is safe.

Coronavirus deaths worldwide have dropped sharply in the past five weeks to a level 35% below the maximum. However, new confirmed cases rose again last week for the third week in a row.

Bitcoin bulls have pushed the price above the $58,426 resistance level on Saturday. It hit a new all-time high above $60,000. The price has retraced, but it is likely to find support at that level it stands now.