Title: Dollar Near Multi-Month Highs; ECB Policy Meeting in Focus

Jul 21, 2021 03:17AM ET

By: AnalysisWatch

The greenback traded better Wednesday, closing close to multi-month highs amid concerns over surging Covid-19 infections beforehand of the begin to the today's European Central Bank coverage assembly.

At 2:55 AM ET, the Dollar Index, which tracks the dollar towards a basket of six different currencies, traded 0.2% better at 93.123, now no longer a way underneath March’s top of 93.439.

Deaths from Covid-19 in the United States have averaged 239 in keeping with day during the last week, almost 48% better than the preceding week, stated Rochelle Walensky, director on the U.S. Centers for Disease Control and Prevention on Tuesday.

The large majority of those instances are actually right all the way down to the greater contagious Delta variant. This changed into first located in India in advance this 12 months and has due to the fact end up the dominant model of the virus in the United States and plenty of different countries.

Elsewhere, buyers could be retaining a cautious eye at the European Central Bank because it begins off evolved a two-day assembly on Wednesday, after converting its inflation aim to 2% earlier this month. President Christine Lagarde hinted at a extrude to the bank's steerage remaining week.