The US dollar rebounded from a two-week low position,The euro hit its biggest weekly gain in nearly two years

07 Feb, 2022

The dollar index rose from a two-week low, rising 0.16% on the same day and closing near 95.48.

The dollar index rose from a two-week low, rising 0.16% on the same day and closing near 95.48. Earlier, it fell to a two-week low of 95.13 because the euro resumed its rise, but the dollar still fell 1.77% last week, the largest weekly percentage decline since November 2020.

Spot gold rose slightly in volatile trading and closed near $1808 in late trading. After the release of non-farm data, it once fell to $1792.30/oz. Growing concerns about inflation helped cushion the pressure brought by the strengthening of the US dollar and the rise of US bond yields, after the US released unexpectedly optimistic employment data; Last week, it rose $16.7, or 0.93%. COMEX April gold futures closed up 0.2% to $1807.80 / ounce.

The euro still strengthened on the same day, rising 0.08% to close at 1.1449. Last week, the euro rose 2.67%, it is the best weekly performance since the end of March 2020, thanks to the hawkish change of the European Central Bank on Thursday.


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