Buck Climbing Back as Covid Dampens Optimism
JANUARY 22, 2021

The U.S. Dollar could close the week even as it is attempting to cut the losses for the week as pessimism and COVID-19 worries take over the rally seen across global markets.
Overview
All around the word, COVID-19 remains an issue for international trade and travel, which is making many investors reconsider just how quickly we can recover from all this. In the United Kingdom, where we have been saying there has been good progress in vaccinating people, Prime Minister Boris Johnson warned that the lockdown measures could last into the Summer as this third wave of the virus proves resilient.

In the U.S., we will continue monitoring changes by the administration as it signs executive orders and pushes for its spending bill to be approved. Data-wise, we will get a chance to see January Purchasing Managers Index (PMI) figures at 9:45 AM. At the time of writing, currencies across the board started dropping in value significantly by an average of 0.50%.