investing.com 18 Dec, 2020 04:45 am

Dollar friendless as bears pile in, poised for worst week in a month By Reuters

Dollar friendless as bears pile in, poised for worst week in a month

2254, after minor profit taking on Friday, there is clear sky ahead until the common currency's 2018 top of $1.The Australian dollar, which also saw some small profit taking, is set for a seventh consecutive weekly gain, a streak that has carried it 9% higher since early November.It has slumped to a nine-month low against the safe-haven yen, even though investors have been gobbling up risky assets all week, and fallen to multi-year lows against the euro, pound, Aussie , kiwi and Canadian dollar."For now the narrative of global growth, and broadening of the recovery, favours risk-sensitive currencies like the Aussie and the kiwi, and more of the same is to be expected in 2021.

fiscal deal and a Brexit deal before Christmas, there will be nothing stopping kiwi," ANZ analysts said in a note on Friday.dollar banknote is seen in this picture illustration SINGAPORE (Reuters) - The dollar has sunk through major support levels and looked set for its worst week in a month on Friday, as its accelerating slide sucked in more short sellers keen to make an easy buck.

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