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The Shared currency recovered from a low of $1.2109 to $1.2140 after Federal Reserve Chair Jerome Powell struck a dovish tone, saying the U.S. central bank is not raising interest rates anytime soon and rejecting suggestions the Fed might start reducing its bond purchases in the near term.
The Pound Sterling extended gains to $1.3670 on pushed-back expectations of negative interest rates and hopes for a quicker economic recovery in Britain due to its vaccination drive buoyed the currency.
The Japanese Yen rose to 103.80 against the greenback following U.S Initial Jobless claims came below expectations.
The Aussie dollar traded flat at $0.7753 following the US President-elect Joe Biden's stimulus announcement was in line with expectations earlier today.
South African rand gained to 15.10 against the greenback on a broad U.S dollar weakness and ahead of South Africa's PPI data due next week.
The dollar-rupee rose by 25 cents to 39.95(selling) on the domestic market following the central bank's intervention.
11:00 - GBP - GDP (MoM)
11:00 - GBP - Monthly GDP 3M/3M Change
17:30 - USD - Core Retail Sales (MoM) (Dec)
17:30 - USD - Retail Sales (MoM) (Dec)