Epidemic concerns push the dollar rose

20 Aug, 2021

Commodity currencies fell sharply

The coronavirus transmission in Minneapolis will be particularly important for the US to discuss the timing of the US Fed discussions on the QE, Cash Kari, chairman of the US Federal Reserve. If the strain continues to spread widely in the United States, it will continue to force the American people to be cautious about returning to the job market.

The dollar index rose 0.44% to close near 93.56. The dollar strengthened across the board after the minutes of the Fed's meeting released on Wednesday suggested that policy normalization could begin this year. Traders will pay close attention to the Jackson Hole annual seminar later this month to find more clues about the Fed's policy direction.

Spot gold fell 0.42% to $1780.38 an ounce as sentiment was weighed down by a stronger dollar and bets that the Federal Reserve might cut its bond purchases early. COMEX December gold futures fell nearly 0.1% to US $1783.10 / ounce.

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