The US dollar is off the highs and markets have stabilized after a risk-off day on Monday. US bond yields remain high ahead of a speech by the Fed’s Brainard.
Coronavirus statistics remain dire yet vaccinations in the UK have been ramped up. Coronavirus cases, hospitalizations, and deaths remain high on both sides of the Atlantic in the wake of the holiday season. London and Los Angeles are the current epicentres, yet figures are going in the wrong direction also in Japan.
The euro was up at $1.2166, after slipping to 1.21320 during the previous session for the first time since Dec. 21, while the GBP/USD pair inched up 0.1% to 1.3553. The USD/JPY pair is down 0.06% to 104.14.
WTI broke the Asian consolidative mode to the upside and refreshed eleven-month highs at $52.77, as the bulls eagerly look forward to a sustained move beyond the $53 threshold. Gold has recovered, topping the $1,850 level.