The Secretary General of the Iran-Iraq Joint Chamber has said that stopping the sale of travel dollars at the official price in Iraq can be the beginning of the elimination of the dollar in the financial exchanges of the two countries.
The dollar and U.S. yields extended gains in Asia on Wednesday, spurred by tapering talk, while Asian shares traded sideways on fears about the spread of the coronavirus despite a record close on Wall Street.
Global shares tracked Asia lower on Friday but remained on course for their sixth straight month of gains as solid corporate earnings and central bank largesse kept sentiment intact, while the dollar held near a one-month low.
The dollar stood firm against its low-yielding peers on Tuesday on bets of a faster economic recovery in the United States and expectations that the U.S. Federal Reserve will show greater tolerance of higher bond yields than other central banks.
The dollar nursed losses near a six-week low on Tuesday and commodity-linked currencies loitered around multi-year highs, as investors’ focus shifted to how U.S. Federal Reserve chief Jerome Powell might respond to resurgent inflation expectations.
The dollar slipped from close to its highest in nearly one month on Tuesday as caution set in before U.S. Treasury Secretary nominee Janet Yellen testifies later, with traders keeping a close eye on the policies of the incoming Joe Biden government.
Asian shares resumed their ascent on Monday as investors pinned their hope on vaccines to eventually deliver a global economic upturn, even as a possible tightening in virus rules for Tokyo pulled Japanese stocks off 30-year highs.
The dollar slipped marginally and commodity currencies inched higher on Monday as investors were relieved by a delay in the review of the U.S.-China trade pact which left the deal intact.
The dollar inched ahead on Wednesday, as a jump in U.S. yields pushed it higher against the Japanese yen, while the kiwi briefly hit a one-month low after the central bank extended its bond buying programme.
The dollar held overnight gains on Tuesday following seven weeks of an almost relentless fall as investors clung to hopes of a bipartisan stimulus deal in Washington and U.S. bond yields rebounded from multi-month lows.
