U.S. dollar fell against most G-10 peers

U.S. dollar fell against most G-10 peers

• After Janet Yellen argued low interest rates offered scope to boost U.S. stimulus, the U.S. dollar fell against most G-10 peers. The market weighed Treasury Secretary nominee Yellen’s willingness to consider issuing longer term debt, including 50-year notes. Overall, Yellen’s testimony did little to change market expectations of what is to come – the U.S. dollar is likely to remain on weaker footing.
• The Great British pound advanced as U.K. inflation remained subdued in December.
• After the Swedish central bank’s first deputy governor Cecilia Skingsley said the bank’s experience of negative policy rates “was on the whole benign,” the Swedish krona fell.
• Malaysia kept its benchmark interest rate unchanged at a record-low of 1.75% at its first meeting of the year, even though most expected a 25-basis point cut. The Malaysian ringgit gained.
• China locked down 1.7 million people in Beijing as two cases of the U.K. Covid-19 variant were identified. With the Chinese New Year holiday three weeks away, officials are under pressure to cut off the virus’s transmission before the period of cross-country mass travel begins.
• President-elect Joe Biden is due to be sworn into office later today and plans to sign a series of executive orders on his first day in office – those include rejoining the Paris climate accord and revoking the Keystone XL pipeline permit.

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ABOUT THE EXPERT - An enthusiastic leader who is passionate about Used, Recycled, Refurbished I.T. assets with a diverse background in retail, private, and schools. My greatest passion is my wife who encourages me, guides me, and handles my day to day operations. I have been working and studying with computers since 1994. I have worked I.T. my whole life in roles including retail, corporate services, and volume wholesale. I.T. is the only real career I have ever had. I do my best to bring you information and technology updates from the viewpoint of an IT Asset Disposition (I.T.A.D.) or Asset Recovery Company which is in the process of maximizing the value of unused or end-of-life I.T. assets through effective reuse or divestment. These are my views and opinions, and I don’t expect everyone to agree with me. I would love to hear from you!