Dollar Ends Year on A Low – 30 December, 2020

Investors moved their bets away from the U.S dollar and towards riskier assets leaving the safe-haven currency on a downturn at end the year as wagers are placed on global economic recovery. The dollar was just above a December low against the yen, last trading at 103.15 yen. The greenback fell to a two year low against the Chinese yuan to 6.4900. After hitting its highest since April 2018, the euro stood at $1.2291, nearing a 10% gain for the year. Sterling held onto a two year high of $1.3641 after Britain and the European Union approved a Brexit trade deal. Against a basket of major currencies, the dollar fell to 89.643 after reaching its lowest since April 2018. The currency has fallen 7.2% for the year.