US Dollar drops as traders prepare for Yellen to talk up stimulus

From reuters.com

The dollar dropped on Tuesday as investors prepared for U.S. Treasury Secretary nominee Janet Yellen to talk up the need for major fiscal stimulus and commit to a market-determined exchange rate when she testifies later in the day.The fall in the greenback came after a 2% rise in the dollar so far in 2021, a gain which caught off guard many investors who had betted on a further dollar decline following its weakness in 2020. The dollar has been helped in January by rising U.S. Treasury yields and some investor caution about the strength of the global economy recovery from the coronavirus pandemic. But most analysts ... (full story)