During this trading week – the 6th one in 2021 – the global commodity currency and the domestic currency of the United States of America, the US dollar (USD), continued to show a strengthening trend in its exchange rate against the major world currencies particular against the British pound (GBP) and, in recent hours, against the single European currency, the Euro (EUR).
On 12 February 2021 at 7:05 am CET, according to the US Dollar Currency Index (DXY) – which compares the exchange value of the USD against the other six major world currencies – the USD was seen at the price level of 90.46 with a daily gain of +0.05%. This trend was also reflected in Forex trades with the global currency pair EUR/USD, when the mutual exchange rate of this currency pair was US$ 1.213 per EUR with the current daily decrease of the EUR by -0.017% against the USD. At the same time Forex trading also saw a decline of the GBP against the USD and the GBP/USD currency pair traded at US$ 1.38 per EUR, with the GBP declining daily by -0.123% against the USD.
The current development of the exchange value of the USD, according to analysts and financial strategists, shows the possibility of further strengthening of the dollar exchange value. After an almost two-week decline of the USD, investors now have the opportunity to make a profit on this global commodity currency, according to these experts. However, there are also financial market experts who point out that a sharp increase in the USD exchange rate could lead to a faster economic recovery on the US domestic market. This would significantly increase the rate of inflation, which would strengthen riskier assets and ultimately work against the USD. However, according to these experts, the USD remains a safe haven for investors and the entire global financial market.