The dollar was the big loser yesterday, weakening to a near-two-month low against the euro. Against the pound, the dollar has weakened to below £0.715 for the first time since February and is close to reaching its lowest point for three years.
The most obvious cause is increasing optimism in the eurozone and UK on post-Covid-19 recovery as the vaccine rollouts gather pace. This is increasing the appetite for more risky assets than the dollar.
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