Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home > Finance > Dollar wallows at two-week low; bitcoin steadies after surge past $48,000

Dollar wallows at two-week low; bitcoin steadies after surge past $48,000

Published by linker 5

Posted on February 10, 2021

3 min read

Last updated: January 21, 2026

FILE PHOTO: Representations of bitcoin and U.S. dollar banknotes are seen in this illustration

By Kevin Buckland

TOKYO (Reuters) – The dollar traded near two-week lows as demand for safer assets ebbed on Wednesday, with traders looking ahead to an expected recovery from the COVID-19 pandemic this year, driven by massive fiscal and monetary stimulus.

Bitcoin consolidated around $46,500 after reaching a new high at $48,216 overnight following Tesla’s disclosure of a $1.5 billion investment in the leading cryptocurrency.

“The economic outlook for the year, according to market consensus, appears to be buoyant,” said Michael McCarthy, chief strategist at CMC Markets in Sydney, pointing to the weaker dollar.

“Sentiment and positioning are key drivers of the market right now.”

Traditionally viewed as a safe haven, the dollar has sunk against major peers as optimism over monetary and fiscal support from policymakers, robust corporate earnings and the prospect that coronavirus vaccines could hasten a return to normality in the United States and elsewhere have bolstered risk sentiment.

The dollar index edged higher to 90.509 early in the Asian session on Wednesday, following a two-day loss that took it as low as 90.427 for the first time this month.

There has been a tug-of-war among traders over the impact on the dollar of President Joe Biden’s planned $1.9 trillion fiscal stimulus package.

On one hand, it should speed a U.S. recovery relative to other countries, bolstering the currency; on the other, it is a major driver in a global reflation narrative that should lift riskier assets at the dollar’s expense.

After a strong start to the year for the greenback, the latter view appears to be regaining sway — with last week’s U.S. jobs data providing the turning point, according to Westpac analysts.

“Friday’s disappointing payrolls completely flattened the USD, that data point casting doubt on the budding U.S. outperformance narrative and refocusing minds on the prospect for sustained reflationary U.S. fiscal and monetary policy,” they wrote in a client note on Wednesday.

“Nursing eye-catching losses, a test of 90 on the cards in coming days,” the note said, referring to the dollar index.

The dollar added 0.1% to 104.68 yen, after dipping as low as 104.5 for the first time this month in the previous session.

The euro weakened less than 0.1% to $1.21105 following a three-day gain.

The British pound was about 0.1% lower at $1.3803 after renewing an almost three-year high at $1.382 overnight.

========================================================

Currency bid prices at 10:31AM (131 GMT)

Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid

Previous Change

Session

Euro/Dollar $1.2110 $1.2121 -0.08% -0.88% +1.2119 +1.2110

Dollar/Yen 104.6720 104.5700 +0.02% +1.26% +104.6770 +104.5900

Euro/Yen 126.78 126.70 +0.06% -0.11% +126.8100 +126.6600

Dollar/Swiss 0.8930 0.8923 +0.08% +0.94% +0.8931 +0.8925

Sterling/Dollar 1.3803 1.3813 -0.07% +1.04% +1.3815 +1.3804

Dollar/Canadian 1.2704 1.2692 +0.08% -0.25% +1.2706 +1.2694

Aussie/Dollar 0.7725 0.7739 -0.15% +0.45% +0.7742 +0.7727

NZ 0.7223 0.7240 -0.23% +0.58% +0.7242 +0.7223

Dollar/Dollar

All spots

Tokyo spots

Europe spots

Volatilities

Tokyo Forex market info from BOJ

(Editing by Jacqueline Wong)