This website uses cookies to ensure you get the best experience on our website


10th Mar 2021
Dalmas Ngetich, for CryptoAltum News Team

USD Softens, Traders Focus on CPI Readings

After two weeks of stretching gains versus major and exotic currencies, the USD pulled back, softening and making commodities—priced in the U.S. dollar, more attractive for investors. At the same time, Treasury bond yields temporarily fell, dragging the greenback with it but allowing the CAD, JPY, and GBP to recover after losses. 


Investors are closely watching how politics pan out this week with a specific focus on the House. If they approve the $1.9 trillion stimulus package giving President Biden an early victory and catalyzing hopes of a faster economic recovery in 2021, the USD rally would likely continue. Further tailwinds will be provided by this week's consumer price index (CPI) reading. Assuming it surpasses expectations, the USD could build on last week's solid labor readings in a bull trend continuation pattern. 

Impact on the USD: 

Bullish. Even though the greenback is soft, it remains at multi-month highs versus major currencies on the back of rising Treasury yields, upbeat macroeconomic data, and expectations of a more robust U.S. economic recovery. The USD could continue with its march higher in the medium term, especially against the CHF, JPY, and Euro, as more speculative USD short beats are rolled back.

More market news over on our Blog

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020